Belfast-based Survitec Group (survitecgroup.com), a market-leader in marine life-saving equipment and solutions, has doubled its global business with the acquisition of the Norwegian safety company Wilhelmsen (www.wilhelmsen.com) in a deal believed to be one of the largest and most complex achieved in Northern Ireland in recent years.

Wilhelmsen’s operations include a successful life-raft rental and fire-suppression equipment and servicing business that is based in Norway but has locations across the globe. The deal was supported by £20 million of capital from Barclays. As well as assisting with the complex refinancing, Barclays has also been appointed as the Survitec Group’s operational banking partner.

The chief financial officer for Survitec Group said the Wilhelmsen acquisition was a “major step” for the company, which has an annual turnover approaching £450 million and operations around the world.

Survitec began operations in Dunmurry in 1952 as RFD Ltd, and its financial headquarters remain local. It has manufacturing operations in Dunmurry and in England, plus a comprehensive network of over 80 service centres in 30 countries.