Northern Ireland

Safety equipment firm Survitec sold to Onex

Survitec factory Image copyright Google
Image caption Survitec makes safety and survival equipment

Survitec, the safety and survival equipment maker, which has a factory in Dunmurry has been sold to a Canadian private equity firm.

The company employs around 300 people in Dunmurry making marine equipment, such as life rafts.

New owners Onex bought it for £450m. This is the latest in a series of private equity owners for Survitec.

It has been sold by Warburg Pincus which bought it from Montagu in 2010 for £280m.

Before that it had been owned by Alchemy Partners.

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