SURVITEC RECEIVES £15 MILLION BANK GUARANTEE FACILITY FROM BARCLAYS
Global survival and safety solutions leader Survitec announced today that it has completed a £15 million Bank Guarantee Facility with Barclays Corporate Banking. 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.