3Si is sold to Alliance Marine Group
Alliance Marine Group has bought the 3Si Group that includes UK based Ocean Safety, Typhoon and ISP and US based Revere. Transaction details have not been disclosed.
Alliance Marine was founded in 1999 by CEO Jean-Paul Roche and taken over in 2016 by WCP (Weinberg Capital Partners).
“Internal growth requirement gives every company a real commitment to tight management and positive financial results,” he said. “In addition, our acquisition strategy enables Alliance Marine to increase its geographical footprint and products portfolio as well as enlarge markets segments exposure.”
He added: “With 3SI and its strong brands Ocean Safety, Typhoon, ISP and Revere, Alliance Marine has made a major step while strengthening its safety products division and commercial segment exposure.”
The group already owns Plastimo and with the €35m sales and 250 staff of 3Si group, Alliance Marine sales will now be close to €170m with around 700 staff.
“There are very interesting similarities between Plastimo and the newly acquired brands: we operate on the same markets and we develop and manufacture proprietary products such as liferafts, lifejackets, lifebuoys and Man Over Board recovery systems,” said Plastimo MD Yann Cornec.
“Plastimo and 3SI also share the obligation to comply with strict regulation, whether for leisure boating, commercial marine or defense markets (SOLAS, USCG, NATO etc.). “Capitalising on the strength and know-how of both companies will allow our safety offer to better answer customers’ needs.”
The group says all current 3SI operations such as sales offices, factories and teams will remain unchanged.
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