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Alliance Marine closes third overseas acquisition supported by Weinberg CP

Alliance Marine, a European distributor in recreational and commercial boating equipment, has acquired 3SI Group in the United Kingdom, its third overseas acquisition following Bukh Bremen in Germany (October 2017) and FNI in Italy (June 2018).

3SI Group counts among the European leaders in safety equipment (design, manufacture and distribution of liferafts, lifejackets, drysuits). Through its portfolio of well-known proprietary brands (Ocean Safety, Typhoon, ISP and Revere) and its know-how, the Group enjoys a strong reputation from professional clients. It generates a turnover of EUR35m and has about 250 employees.
The acquisition is of strategic interest for Alliance Marine, bringing total revenues to EUR170m, of which 50 per cent are now achieved outside France.
“The development of international presence gives Alliance Marine a true advantage. Through its growing pan-European footprint, the Group benefits from more diversified dynamics while reinforcing its partnership with major suppliers,” says Jean-Paul Roche, CEO of the Group.
Adding 3SI’s brands to Plastimo will create the European leader in safety, as both companies have a complementary positioning, both in terms of geographic reach and clients’ portfolio. 3SI and Plastimo activities will be clustered into a Safety department managed by Andrew Richards, the current CEO of 3SI Group: “We are enthusiastic about joining Alliance Marine project. We share the same culture of customer centricity and willingness to propose in-house designed innovations.”
The transaction has been financed through a capital increase and the acquisition facility of the unitranche structured by Goldman Sachs in 2016.
With the support of Weinberg CP, Alliance Marine demonstrates through this new transaction its capacity to achieve larger deals and to lead the market consolidation in Europe.

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