Hogan Lovells Advises Survitec Group Ltd on LBO of Revere Commercial Marine Business
08 December 2010
LONDON, 8 December 2010 - Hogan Lovells acted as acquisition counsel to Survitec Group Limited (Survitec), the global leader in safety and survival equipment, on the leveraged buyout of Revere Commercial Marine Business from Revere Supply Company Inc. (Revere), to expand its presence in the United States. The deal was announced on 1 December 2010.
Survitec was acquired by global private equity firm Warburg Pincus earlier this year. The acquisition of Revere is designed to strengthen Survitec's leading position in the marine, defence, and aerospace safety markets.
Alan Greenough co-head of Private Equity at Hogan Lovells said, "We are delighted to have acted for the Survitec Group on this deal, which demonstrates Private Equity's ability to support the growth of investee companies despite difficult market conditions. This is a good example of a bolt-on acquisition as part of a buy-and-build strategy to enhance the exit for the private equity house and other shareholders."
The cross-border Hogan Lovells team advising on the deal was led by Private Equity counsel in Miami, Carlos Deupi, and co-head of Private Equity in London, Alan Greenough; assisted by London partners Amit Nayyar and Peter Kohl, and Miami associates Jorge Medina and Mark Moon. Denver partner Scott Reisch assisted on environmental matters, and the Washington, D.C. team consisted of partner Shelly McGee on IP matters; partner Daniel Davidson and associate Steve Giordano on tax matters; associate Anthony Capobianco on export controls; and Vi Nguyen on benefits.
Hogan Lovells has been instructed by Warburg Pincus on a number of deals including Warburg Pincus & Cinven on the €2.6 billion acquisition of Essent Kabelcom from Essent N.V.