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Barclays facility buoys Survitec on top of recent refinancing

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Survitec, a leader in lifesaving and survival technology, completed a £15m bank guarantee facility with Barclays Corporate Banking.

This follows the company’s recently announced £270m refinancing and a new £27.5m super senior revolving capital facility.

Growth plans

All three of the agreements buoy Survitec’s growth plans for its survival technology products and services.

'The bank guarantee from Barclays is another key component of our strategic plan,' Survitec CFO Ray Leclercq said. '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 recognized financial services leader such as Barclays helps us strengthen our global customer offerings.'

Survitec recently acquired Hansen Protection, a leading European provider of protective wear for the energy, defense and agriculture sectors.

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