Onex acquires Survitec Group for $680M

Jan. 16, 2015 – Onex Corp. says it has agreed to acquire Survitec Group Ltd., a British survival equipment provider, for $680 million.

Headquartered in Southampton, Survitec Group employs about 2000 people across 10 manufacturing sites and 50 service centres, operating through a network of a further 550 distributors and agents to bring survival gear to the marine, defence and aerospace industries.

In Canada, the company operates a service station in Newfoundland and British Columbia.

Onex says the purchase is expected to close in the first quarter, subject to customary conditions and regulatory approvals. Founded in 1984, it is a private equity firm with offices in Toronto, Ont., and New York, N.Y.