Dunmurry, Northern Ireland, 1st December 2010: Survitec Group Limited, the global leader in safety and survival equipment, has acquired Revere Commercial Marine Business from Revere Supply Company Inc., to expand its presence in the United States. Terms of the transaction were not disclosed.
Revere Supply is a well established sales and distribution company of safety equipment. With products ranging from inflatable life-rafts to lifejackets and immersion suits, Revere has a strong relationship with some of the key players within the US safety market.
Commenting on the transaction, Survitec Group CEO Doug Baxter said:
â€œBringing Revereâ€™s commercial business within the Survitec Group is a vital strategic step in expanding our marine business both in the USA and globally.
â€œRevere has an extensive range of products and has built an excellent reputation with its global customer base. We will look to take advantage of its impressive product range and excellent customer service philosophy to ensure we maintain our competitive advantage within the safety and survival industry.â€
Key members of the Revere team will join Survitec to ensure continuity of customer service and assist Survitec in its expansion plans both in the U.S. and worldwide. The newly acquired business will become Survitec Survival Products Inc.
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 leading position in the marine, defence and aerospace safety markets by growing organically and through add-on acquisitions both within existing and new territories.
Survitec currently provides product and services to a broad range of government and commercial customers globally including the UK Ministry of Defence (MOD), the US Navy (NAVSEA and NAVAIR), the US Air Force, Shell, Lockheed Martin, BAE Systems, Carnival Cruises, Royal Caribbean Cruises and Princess Cruises.
Based in London and Dunmurry, Northern Ireland, the Survitec Group brings together best-in-class brands with reputations for quality, design and innovation,. The company holds market-leading positions worldwide in marine, defence and aerospace survival technology. With an extensive history spanning over 160 years and a portfolio of some of the most reputable brands in the safety and survival industry, Survitec is committed to product innovation, technological advancement and quality assurance.
Key products within the Survitec Group include marine, defence and aviation liferafts, world leading submarine escape technology, lifejackets for commercial airlines and the offshore industry as well as pilot flight equipment, including anti-g clothing used for the Eurofighter and JSF programmes. The Group also pioneered marine evacuation technology and today the unique Marin Ark system is used on many major cruise ships across the globe.
With six manufacturing sites and a global service and distribution network, Survitec partners with some of the best names within the industries to offer the fastest, highest quality service possible. Each manufacturing facility has a dedicated Research & Development team who work tirelessly to continuously improve each product, ensuring Survitec is always ahead of the ever changing demands of each of its market sectors. Through rapid organic and acquisitive growth, Survitec has consistently grown revenue and profitability.
For more information please visit www.survitecgroup.com
Based in Jacksonville, Florida, Revere Supply Inc., is a marine survival products company and a family-owned business founded in 1936. It is a leading supplier of commercial and yachting liferafts and manufacturer of the award-winning Revere ComfortMax inflatable PFD and is also the exclusive North and South American distributor of McMurdo EPIRBS and PLBâ€™s. It is also one of the largest distributors of Pains Wessex pyrotechnics in the United States
Since their inception more than 70 years ago, Revere Survival products have continued to manufacture the finest survival equipment available in America. Over 70 years and four generations later, Revere continues to maintain the highest standards in product quality and customer service. Now based in Jacksonville, Florida, Revere offers a full line of survival equipment which includes over 10 types of inflatable liferafts (for yachting and commercial vessels, economy and ISAF approved rafts), inherently buoyant life vests, inflatable PFDâ€™s, immersion suits, USCG-approved first-aid kits, fishing kits and seasick tablets.
Revereâ€™s ever-growing client base now includes commercial liferaft service stations, cruise lines, retails merchants, ship chandlers, as well as the U.S. Government â€“ specifically in the U.S. Coast Guard. In addition, Revere has over 100 service stations in 17 states and in over 20 countries worldwide.
For more information please visit www.reveresupply.com