2021-05-06

IK Investment Partners to sell Hansen Protection to Survitec Group

IK Investment Partners (“IK”) is pleased to announce that the IK VII Fund has sold its stake in Hansen Protection AS (“Hansen Protection” or “the Company”) to Survitec Group Ltd (“Survitec”). Financial terms of the transaction are not disclosed.

Hansen Protection, with headquarters in Moss, Norway has over 140 years of experience in design and production of textile products safeguarding people, property and the environment. The Company is a leading European supplier of immersion suits and protective rainwear used in harsh environments and cold water areas, as well as a leading Scandinavian supplier of coated textile products for leisure, marine and niche applications. Trusted by defence, marine, energy, agricultural and emergency response clients for decades, Hansen Protection has a reputation for the provision of outstanding lifesaving products that conform to the most stringent safety standards.

Since partnering with IK in 2013, Hansen Protection has reformed its strategy in the rental and personal protection businesses to also service the growing offshore wind segment though its heliports in Norway, Denmark and the Netherlands, as well as expanding its protective rainwear offering to the wider European market. Through leveraging IK’s operational expertise, the Company has also re-focused on bespoke provision for the energy sector, whilst continuing to win prestigious contracts outfitting European navies, coastguards as well as search and rescue teams.

Terje Gorm Hansen, CEO of Hansen Protection, commented: “It has been our privilege to have partnered with IK, an organisation that shares our Nordic roots and drive for excellence. With their support, we have strengthened our product range and service standards to better serve those that rely on us through the most challenging conditions.”

Christopher Masek, Chief Executive Officer of IK Investment Partners and advisor to the IK VII Fund, said: “With its committed team dedicated to delivering world-class equipment that is trusted and reliable, Hansen Protection has a rich history and an exciting future ahead of it. Together with Survitec, they will continue to provide lifesaving solutions to those working in essential industries and roles.”

Ron Krisanda, Executive Chairman of Survitec Group, said: "The combined portfolios from Survitec and Hansen Protection will offer greater value to our customers by providing one single supplier for Survival Technology. This acquisition reinforces our position as the global leader in the provision of personal protection wear, including suits, lifejackets, and rainwear, across the Marine, Energy, Defence and Aerospace sectors."

For further questions, please contact:

IK Investment Partners
Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
Email: jmcfarlane@maitland.co.uk

About Hansen Protection

Hansen Protection AS is a high-tech company that develops, designs and manufactures both standard and tailor-made hi-tech textile products for various sectors. The company has over 140 years of experience in manufacturing protective clothing and life jackets for seafarers, and has been designing, developing and making rescue and survival suits for the North Sea Oil Industry since 1976. In addition, the company has activities within canopies and interior fittings for leisure boats, as well as products for agricultural applications and the health sector. For more information, visit www.hansenprotection.no

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 149 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit: www.ikinvest.com

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