IK Investment Partners to sell Hansen Protection to Survitec Group
IK Investment Partners (IK)’s IK VII Fund has sold its stake in Hansen Protection AS (Hansen Protection) to Survitec Group Ltd (Survitec). Financial terms of the transaction have not been 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, comments: “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, says: “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, says: "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."