Survitec Group Joins Forces With Wilhelmsen Maritime Services AS to Maximise its Global Market Position

As a result of the terms of the deal, WMS will transfer into Survitec all related safety products and services, including Wilhelmsen Technical Solutions, WSS Technical Services and WSS Safety Products, creating a world leader in safety and survival solutions. The combined business will operate under the name Survitec Group. On completion of the merger, WMS will hold 20% of the combined group and have one representative on the board of directors.   

The complementary range of products and services enables complete cradle-to-grave, new-build equipment supply and aftermarket safety solutions including amongst others fire safety, lifeboats, life rafts and evacuation systems. The unification will also offer a turnkey sales footprint for Survitec in key new build markets including China, Korea, Japan, Singapore and Brazil where Wilhelmsen is integral to the new build value chain.

Highlights of the deal:

• Combined group will gain access to £1.5 billion addressable global market
• The merger will create one of the world leaders in safety and survival solutions with over 3,000 staff
• Greater critical mass with combined revenue of ~c.£400m and a global footprint across more than 35 countries
• Cradle-to-grave marine and offshore safety portfolio formed
• Significant value creation for all stakeholders
• Platform for substantial growth for Survitec Group

The combined group will benefit from an unrivalled in-house service & global distribution network, which will not only reduce costs for customers but will also create significant value creation for all stakeholders.

In terms of the financial impact, the merger will create significant cost and revenue synergies based on the greater critical mass of the merged group.

The merger builds upon Survitec’s recent acquisition of Survival Craft Inspectorate and Survival Offshore Systems and is a further demonstration of the major consolidation in the safety and survival sector. As a result of the merger Survitec will have a leading market position across a broader range of services and will have an excellent platform for future growth.

Brian Stringer, CEO of Survitec Group, said:

“This highly complementary merger will be a game changer in the safety and survival solutions sector. The unification of our two world class businesses will allow us to deliver an unrivalled in-house offering that covers the most comprehensive range of solutions in the highly regulated safety and survival industry. Most importantly, the deal will create significant value for our customers and shareholders while providing a platform for the combined group to pursue the addressable global markets worth over £1.5 billion annually. The addition of a highly skilled and experienced workforce that is well established and respected in the industry, further enables Survitec to deliver our customers and partners global reach with local touch”.

Dag Schjerven, President and CEO of Wilhelmsen Maritime Services who will take a position on the Survitec Group Board of Directors, added:

 “Upon completion of the merger, WMS will hold a 20% stake in Survitec, which will cement the long-term relationship between our two organizations and ensure Wilhelmsen’s continued and significant involvement in the future success of the combined group”.

For Press Enquiries Please Contact Ginny Pulbrook:

Ginny.Pulbrook@camarco.co.uk 020 3757 4980

Holding Company: Wilhelmsen Maritime Services

About Wilhelmsen Technical Solutions

The Wilhelmsen Technical Solutions business encompasses a broad range of fixed fire suppression and prevention systems and includes highly regarded brands such as Unitor, Maritime Protection XFlow from Novenco Fire Fighting. The business unites an integral part of the new build value chain and is considered a tier 1 supplier in the marketplace for fixed fire fighting systems (watermist, foam, CO2 etc.) for both new build and retrofit opportunities.  The WTS business also supplies a range of other regulated Lifesaving Appliances (LSA) including immersion suits, lifejackets, breathing apparatus and loose fire safety and rescue equipment.

About WSS Technical Services

WSS Technical Services includes an extensive fleet of life raft leased assets and is the world leader in Fire Rescue Safety service (FRS) to the marine and offshore industry, providing on-demand and contracted services in over 60 locations around the world for vessels in operation or in dry dock. The Technical Services activities within WSS have an estimated reach to over 25% of the merchant bluewater fleet based on current life raft and fire safety customers, with a strong emphasis on the tanker, container, offshore and RoRo vessel markets.

About WSS Safety Products

The Safety Products element of WSS covers fire protection, personal safety, medical and lifesaving categories amongst others, and includes familiar product categories such as immersion suits, lifejackets, breathing apparatus and loose fire equipment (extinguishers, hoses, nozzles etc.) With many of the products marketed under the well-known Unitor brand, the safety products are made available and serviced through the WSS service network.