in Defence / Security

Survitec secures £15m Barclays Bank Guarantee Facility

Posted 28 June 2021 · Add Comment

Survival and safety solutions specialist Survitec announced today that it has completed a £15 million Bank Guarantee Facility with Barclays Corporate Banking.

Image courtesy Survitec

This bank guarantee complements the company’s recently announced £270 million refinancing as well as a new £27.5 million Super Senior Revolving Capital Facility. All three of the agreements are part of Survitec’s growth plans for its survival technology products and services.

Ray Leclercq, Survitec’s Chief Financial Officer, said: “The bank guarantee from Barclays is another key component of our strategic plan. This deal aligns with our customer growth plans and our unique ability to serve our customers globally with a one-stop shop for their survival and safety needs. Partnering with a global and well recognised financial services leader such as Barclays helps us strengthen our global customer offerings.”

Commenting on the Survitec transaction, Graeme MacLaughlin, Relationship Director at Barclays Corporate Banking, said: “Barclays is pleased to be working with Global Survival Technology leader, Survitec and to support them in their continued growth in technology products and services for customers around the world.”

Survitec recently announced the acquisition of Hansen Protection, a leading European provider of protective wear for the energy, defence and agriculture sectors. Hansen Protection joined forces with Survitec in May 2021, adding its highly regarded product portfolio and loyal customer base to Survitec’s leadership position.

 

 

Other Stories
Advertisement
Latest News

Horizon Technologies releases BlackFish

Horizon Aerospace Technologies has announced the release of a new airborne SIGINT product, BlackFish, a small airborne qualified, tri-band Sat Phone SIGINT system, which simultaneously monitors the Iridium, Thuraya and Inmarsat

BAE Systems' advanced APKWS enhances rocket range and impact

BAE Systems, Inc. has developed an advanced version of its combat-proven AGR-20 Advanced Precision Kill Weapon System (APKWS) guidance kit that offers enhanced strike distance and precision strike lethality.

Why the circular economy is taking off

James Domone, Principal Engineer, Atkins, looks at the adoption of circular economy principles in aerospace and how their application can help decarbonise the UK defence sector.

Menzies Aviation adds three senior members to MEAA team

Menzies Aviation has today announced the appointment of three senior members to its Middle East, Africa and Asia (MEAA) team: John Henderson as Senior Vice President Operations MEAA, Gemma Sinclair as Vice President HR MEAA and Kevin

Blighter to showcase A800 3D multi-mode radar at DSEI 2021

Blighter Surveillance Systems will be showcasing its innovative A800 3D multi-mode drone detection radar in the ADS Group UK Pavilion at DSEI 2021, from Tuesday 14th September to Friday 17th September, at the ExCeL exhibition centre in

British engineers produce pioneering PPE

Engineers from BAE Systems' Submarines business, along with local company Lancastle and staff from University Hospitals of Morecambe Bay NHS Foundation Trust, have developed pioneering new Personal Protective Equipment (PPE) - the

See us at
RAF Museum BTDSEI BT2606170921