Survitec receives £ 27.5million revolving credit facility from Santander UK
Global leader in life support and security solutions, Survitec, today announced that it has entered into a £ 27.5million Super Senior Revolving Capital Facility (RCF) with Santander UK. The new facility comes on top of the recently completed £ 270million refinancing announced by the company in April.
Both agreements support Survitec’s growth plans for its survival technology products and services.
The new RCF is complemented by a foreign exchange facility, which is also provided by Santander UK. Santander UK is one of the UK’s leading retail and commercial banks and is a wholly owned subsidiary of the large world bank Banco Santander.
Ray Leclercq, Chief Financial Officer of Survitec, said: “This transaction is a demonstration of the confidence of one of the UK’s leading banks in Survitec’s business, our growth plans and our ability to execute those plans. This complements other key milestones for Survitec in 2021, including the completion of a £ 270million refinancing and the acquisition of Hansen Protection. ”
In May 2021, Survitec announced the acquisition of Hansen Protection, a leading European supplier of protective clothing for the energy, defense and agriculture sectors.
“The addition of Hansen Protection’s highly regarded products to Survitec’s portfolio is in line with our goal of being a single global partner for maritime and defense customers around the world,” continued Mr. Leclercq.
Commenting on the new RCF transaction, Chris Thomas, Director of Structured Finance, Santander UK said: “Survitec is a global leader in the survival and security solutions markets. We are delighted to provide funding to support the next important phase of its growth strategy. “