Ellen Forster https://bdaily.co.uk
3Si Group, a Grear Yarmouth-based maritime group, has acquired Bootle-based lifejacket manufacturer International Safety Products (ISP).
ISP will join Ocean Safety and Typhoon, alongside Revere Survival within the group, to further complement 3Si’s growing portfolio.
3Si CEO Doug Baxter said: “I am delighted to welcome ISP into the 3Si Group, creating one of the world’s leading lifejacket providers and safety product suppliers. ISP shares with 3Si a key philosophy of providing excellent value, innovation and support to our customers and they have an enviable customer base covering the globe.
« I look forward to working with our new colleagues to offer our customers an enhanced and unique capability and service. »
ISP managing director John Rogers said: “We are extremely proud of what is being achieved at ISP and we have complete confidence that the business will continue to thrive within the 3Si Group,
“This is a hugely positive development for the company which can now leverage even greater levels of resource to drive investment, development and growth.”
ISP commercial director Geoff Billington said the acquisition signalled a new era for ISP which will ramp up its ambitious overseas expansion. “One of ISP’s greatest strengths is its passionate, dedicated and highly-skilled workforce,
“Our strong team ethos and attention to customer service have been fundamental in elevating the business to where it is today. Under the 3Si Group ISP can now access an extended customer base enhancing our ability to reach new markets and territories. This provides huge potential for ISP’s unrivalled product offering.”
Since undergoing a MBO in 2008 ISP has been backed by Merseyside Special Investment Fund (MSIF).
MSIF Portfolio Director Marion Savill said: « We are delighted to have been able to support John and Geoff as they have grown and developed ISP, and wish them and the business continued success in this next exciting phase of development. »
Gareth McIntegart, partner with DLA Piper UK LLP in Liverpool and Tim Simpson, partner with Park Place Corporate Finance LLP, advised the ISP shareholders on the deal.