Survitec Group Completes Merger with WMS Safety Business
Survitec Group, a provider of critical safety and survival technology to the marine and defence markets, has announced the completion of its merger with Wilhelmsen’s marine safety business.
The deal includes the transfer of all Wilhelmsen Maritime Services AS (WMS)’ safety related systems, products, services and competence to Survitec. The combined business will operate under the name Survitec Group.
Survitec Group will have access to a £1.5 billion ($1.9 billion) addressable global market and will have over 3,000 employees in more than 35 countries. The combined group will have a revenue of ~c.£400m and will create value for customers as a result of the cost and revenue synergies and the end-to-end marine safety offering.
The group is now placed to offer customers the complete safety and survival portfolio on a global basis. The combined group includes brands such as Crewsaver, RFD, DSB and SurvitecZodiac.
Following the completion of the merger, WMS now holds 20 percent of the combined group and has one representative on the board of directors, Dag Schjerven, President & CEO, Wilhelmsen Maritime Services AS.
