Global survival and safety solutions provider, Survitec has announced that it has completed a £27.5 million Super Senior Revolving Capital Facility (RCF) with Santander UK.
This new facility is in addition to the recently finalised £270 million refinancing announced by the company in April 2021. Both agreements support Survitec’s growth plans for its survival technology products and services.
New RCF complemented by a foreign exchange facility
The new RCF is complemented by a foreign exchange facility, which is also provided by Santander UK
The new RCF is complemented by a foreign exchange facility, which is also provided by Santander UK. Santander UK is one of the UK’s leading retail and commercial banks, and is a wholly owned subsidiary of the major global bank - Banco Santander.
Ray Leclercq, Survitec’s Chief Financial Officer said, “This transaction is a demonstration of confidence by one of the UK’s leading banks in Survitec’s business, our growth plans and our ability to execute those plans. This complements other key 2021 Survitec milestones, including completion of a £270m refinancing and the acquisition of Hansen Protection.”
Acquisition of Hansen Protection
In May 2021, Survitec announced the acquisition of Hansen Protection, a renowned European provider of protective wear for the Energy, Defence and Agriculture sectors.
“Adding Hansen Protection’s highly regarded products to Survitec’s portfolio is consistent with our goal to be a single global partner for maritime and defence customers across the globe,” adds Ray Leclercq.
Funding to support Survitec’s growth strategy
Commenting on the new RCF transaction, Chris Thomas, Director, Structured Finance, Santander UK said, “Survitec is a global leader in the survival and safety solutions markets. We are delighted to provide funding to support the next important phase of its growth strategy.”