Specialist in survival suits and personal protection suits
In February 2011 Montagu completed the acquisition of Helly Hansen Pro, subsequently rebranded Hansen Protection, from the Helly Hansen Group.
Hansen Protection, headquartered in Moss, Norway, has c.140 employees and is predominantly active in the Nordic region. It is organised in three main business segments: survival suit rental, used by personnel in their transport between land and offshore installations (oil and gas rigs), personal protection suits, used in other marine and hazardous environments (navy, chemical plants, fire brigades) and pro textiles, which includes boat canopies and products for the agriculture, industry and health sectors.
Montagu was attracted to Hansen Protection's defensive characteristics with high levels of recurring revenues and strong, long-term customer relationships. These features, combined with a highly motivated and experienced management team and Montagu's previous experience in the sector, made us comfortable with the business and excited about its growth prospects.
Under Montagu's ownership Hansen grew its business strongly driven by both market growth, new product development and, via acquisition, geographical expansion. After a short process Hansen was sold to private equity house IK providing Montagu with a return in excess of 2x money.