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Survitec, the Dunmurry-based safety equipment manufacturer with 300 staff, has been acquired by Canadian private equity firm Onex for £450m.

Survitec has acquired Revere Commercial Marine Business, the US supplier of safety equipment, for undisclosed terms.

Survitec has acquired Seaweather, the marine servicing firm with sites in Bromborough, Dartford and Southampton, for undisclosed terms.

Survitec, the Belfast-based supplier of safety equipment with 1,100 staff, is expected to be sold by Montagu to buy-out firm Warburg Pincus for about £280m.

Survitec, the supplier of survival technology, has undergone a £146m management buy-out backed by Montagu Private Equity.