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Warburg Pincus eyes sale of UK survival firm Survitec - sources
May 27, 2014 / 4:46 PM / 3 years ago

Warburg Pincus eyes sale of UK survival firm Survitec - sources

LONDON/NEW YORK, May 27 (Reuters) - Private equity firm Warburg Pincus is exploring a sale of UK survival equipment company Survitec and is looking at launching a process this year, three sources familiar with the matter said on Tuesday.

Goldman Sachs is the frontrunner for the mandate of Survitec, two of the sources said.

Survitec provides survival products from lifejackets to anti-gravity suits.

The process is still at an early stage and no decisions have yet been made, although both strategic and private equity options are being explored, one of the sources said.

Warburg Pincus bought Survitec in 2010 from private equity group Montagu for 280 million pounds ($471 million).

Warburg Pincus declined to comment.

$1 = 0.5952 British Pounds Reporting by Freya Berry in London and Mike Stone in New York; editing by Clare Hutchison

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