Warburg plans exit of professional survival equipment maker Survitec

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Survitec suitUS buyout house Warburg Pincus is reportedly eyeing a sale of UK survival equipment business Survitec four years after picking up the company from Montagu Private Equity.

Warburg hopes to launch the sale process this year according to Reuters, which said Goldman Sachs was the frontrunner to buy the business.

It cited three sources familiar with the matter.

Survitec makes safety equipment for the marine, defence and aerospace sectors including life rafts, submarine escape technologies, life jackets and pilot flight equipment.

Warburg paid about £280m for a majority stake in the business in 2010, with management holding the rest.

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