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Hansen Protection

Status
Realised
Country
Norway
Strategy
Mid Cap
Sector
Business Services
Entry
Jul-13
Exit
May-21
Fund
IK VII

Norwegian specialist survival suit manufacturer and rental service

Hansen Protection AS is a high-tech company that develops, designs and manufactures both standard and tailor-made hi-tech textile products for various sectors. It is the leading producer of specialist survival suits for extreme weather conditions and sole provider of rental transport suits to energy companies in the Norwegian Continental Shelf region.

The company operates a rental and service model based out of six helicopter sites in Norway, one in Denmark and two in Canada. Additional business activities include specialised survival suits for personal protection (immersion suits, work suits, life jackets), specialty textile products, mainly for the oil and gas, defence and agriculture segment, and marine products such as boat canopies.

Hansen Protection is headquartered in Moss, Norway. The company has additional activities supplying canopies and interior fittings for leisure boats, as well as products for agricultural applications and the health sector. 

The IK VII Fund acquired Hansen in July 2013, before selling its stake to  to Survitec Group in May 2021.

Our Value Creation Strategy

During our ownership, we worked alongside the management team to:

  • Support continued growth of the rental business;
  • Develop a growth strategy for the personal protection business; and
  • Re-focus special products to oil services and execute pricing initiatives.