Alex Lever

News: Survitec acquires Cosalt’s marine business

November 14, 2011 by Alex Lever
View large version of image: Survitec acquires Cosalt’s marine business

Key Chemring Marine partner, Survitec, has acquired the marine business of Cosalt. Cosalt supplies a range of marine safety equipment including liferafts, lifejackets and immersion suits and provides associated services to customers serving the marine industry in the UK and mainland Europe.

Cosalt’s marine business operates across 21 sites in the UK and continental Europe, including 19 service and distribution centres, adding to Survitec’s existing portfolio of 17 owned and more than 400 subcontracted service stations.

Cosalt is a key distributor and service agent for Survitec’s branded liferafts worldwide, and its integration within the Survitec group will improve the service offering provided to UK and European customers. The newly acquired business will be rebranded Survitec Service and Distribution.

Survitec Group CEO Doug Baxter says, “This acquisition forms a significant step in our strategy to enhance our core commercial marine business by expanding our service and distribution footprint worldwide. By owning such service stations we can continue to ensure a high quality offering throughout the lifecycle of our products, giving our customers further confidence and an increased range of lifesaving equipment.

“Cosalt’s history of providing vital services and bespoke lifesaving equipment makes it an extremely complementary acquisition not only because of our shared philosophy of putting safety and survivability at the heart of everything we do, but also because of the natural fit of our product ranges.”

Approximately 453 employees will transfer to Survitec with immediate effect along with key members of the management team.

Survitec was acquired by global private equity firm Warburg Pincus in 2010. With the backing of its new shareholders, Survitec is pursuing its global expansion strategy and strengthening its position in the marine, defence and aerospace safety markets by growing organically and through acquisitions both within existing and new territories.

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