9:30am Friday 3rd September 2010
By Gareth Lewis
THE firm that keeps Southampton cruise passengers safe on the high seas has been sold to a Northern Irish rival for an undisclosed sum.
Cruise liner to helicopter safety equipment supplier, Southampton-based Seaweather, has been taken over by Survitec, which supplies lifeboats to the US Navy and survival suits for Australian airforce pilots.
Seaweather’s products are a staple on the giant liners that are a familiar sight in Southampton Water. But as well as cruise brands such as P&O and Carnival, Seaweather counts ferry firm Stena Lines, airline Thomson Airways and AgustaWestland Helicopters among its customers.
Large fleet Seaweather, which also has bases in Dartford and Liverpool, sells everything from liferafts to lifejackets and distress flares. Another key component of its business is the service of liferafts and it has one of the largest fleets of rafts for hire in the UK.
Belfast-based Survitec, which employs 1,270 people and can trace its roots back 160 years, makes world-leading submarine escape equipment and anti-g clothing used on the Eurofighter and Joint Strike Fighter programmes.
Survitec was bought by private equity house Warburg Pinkus in a £280m deal at the start of the year.
Group chief executive Doug Baxter said: “Bringing Seaweather within the Survitec Group is an important step in expanding our service and distribution business globally. Seaweather has built an excellent reputation with their customer base for high levels of quality service around the clock, 365 days a year. We will look to enhance and expand their activities.”
Seaworthy managing director Richard George will stay on and work with the Survitec Group to grow the business.
© Copyright 2001-2012 Newsquest Media Group
http://www.dailyecho.co.uk/trade_directory/