Capitol Meridian Partners & Stellex Capital Management to Acquire Beaufort, the Aerospace & Defense Survival Equipment Division of Survitec

• Beaufort holds coveted positions on a number of major long-lived programs
• Capitol Meridian and Stellex bring deep aerospace, defense and manufacturing expertise
• Standalone ownership is expected to accelerate organic and inorganic growth investments

ELLESMERE PORT, England & WASHINGTON & NEW YORK--(BUSINESS WIRE)--Survitec, a global provider of Survival Technology, has agreed to sell its aerospace and defense division, Beaufort, in a carve-out transaction to investment firms Capitol Meridian Partners and Stellex Capital Management.

Ellesmere Port, UK-based Beaufort supplies survival equipment for air, land, and sea forces to the U.S. Department of Defense, U.K. Ministry of Defence, and other allied militaries, as well as defense primes. Core products include flight jackets, anti-G trousers, liferafts, submarine-escape equipment, and immersion suits. The company employs 1,200 people globally and operates seven manufacturing facilities across the US, UK, Germany, and Australia.

Robert Kledal, Chief Executive Officer of Survitec, said, “Beaufort’s transition to new ownership, who have deep sector expertise, positions the company to execute its growth strategy with focus and discipline, while maintaining delivery for customers and partners. With dedicated investment and industry insight, Beaufort is well placed to accelerate innovation, strengthen its market position and capture the opportunities ahead. I wish our soon former colleagues all the best on this new and exciting journey."

Beaufort CEO Dom Cartwright said, “I thank our colleagues at Survitec for their support and for entrusting us with this next chapter of innovation and growth. We’re honored and excited to lead Beaufort as an independent company backed by investors with long histories in aerospace and defense. Our mission to protect those who serve is steadfast; now we will have greater focus and capital to further invest in innovation and provide even better service to our customers and partners.”

“We look forward to partnering with Dom Cartwright and the Beaufort team as we build on the company’s multi-decade track record of quality, innovation, and service,” said Adam Palmer, Founding Partner of Capitol Meridian, and Karthik Achar, Partner at Stellex. “As a platform with a global footprint and embedded positions on critical programs, we believe Beaufort is well-positioned to benefit from strong and accelerating defense spending worldwide. We intend to pursue complementary acquisitions, invest to expand the product portfolio, and deepen customer relationships.”

Houlihan Lokey served as exclusive financial advisor and Greenberg Traurig served as legal counsel to Survitec. Evercore served as exclusive financial advisor and Latham & Watkins LLP served as legal counsel to Capitol Meridian and Stellex. Terms of the transaction were not disclosed.

About Survitec
Survitec is a global Survival Technology leader. Survitec has more than 3,000 employees worldwide, covering 11 manufacturing facilities and more than 400 service centers. They operate in over 2,000 ports, spanning 96 countries. Survitec is the world’s largest manufacturer and supplier of liferaft, Marine Evacuation Systems (MES) and offshore rental PPE. The Survitec team live by their purpose “We Exist to Protect Lives”. Throughout its 168-year history, Survitec has remained at the forefront of innovation, design and application engineering and is the trusted name when it comes to critical safety and survival solutions. www.survitecgroup.com

About Beaufort
Beaufort is at the forefront of innovation in survival technologies, with proven capability delivering world-first solutions across air, land and sea domains. As the Aerospace & Defense business of Survitec Group, Beaufort is dedicated to delivering mission-critical solutions that protect and enhance the performance of defense organizations globally.

About Capitol Meridian Partners
Founded in 2021, Capitol Meridian Partners invests at the nexus of commercial and government markets, targeting opportunities where the firm can invest and drive value creation through active engagement with management. The firm draws upon the deep network of industry veterans curated over 25+ years of its principals’ experience in the sector to bring thoughtful strategic resources to each investment opportunity. capitolmeridian.com

About Stellex Capital Management LLC
With offices in New York, London, Pittsburgh and Detroit, Stellex Capital is a private equity firm with over $5 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insights, and access to capital. Sectors of particular focus include aerospace, defense & government services, transportation & logistics, manufacturing, real economy & business services, food processing and tech-enabled services. Additional information may be found at http://www.stellexcapital.com