Global safety solutions leader Survitec announced that it has completed a £270 million refinancing with funds managed or advised by the Credit Group of Ares Management Corporation (“Ares”), a leading global alternative investment manager.
Ray Leclercq, Survitec’s Chief Financial Officer said, “Successfully concluding this financing demonstrates the confidence we believe that Ares and M&G have in our business. This marks a key milestone for Survitec’s customers, employees, shareholders and other partners. We completed this financing with an industry leader such as Ares based on the strength of our underlying business, meeting our current performance targets with year-over-year improvement in profitability as well as our growth plans for the coming years.”
“We are pleased to be providing this financing to a global leader in survival and safety solutions. The Survitec management team have been impressive throughout the process and we look forward to supporting them in the next phase of their growth strategy,” said Daniel Sinclair, Partner in the Ares Credit Group, focused on European direct lending.
Survitec’s lead shareholders are Searchlight Capital Partners, a leading global private investment firm, and M&G Investments, an international asset manager.
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