Feb. 4, 2013
/PRNewswire/ -- Drew Marine announced today the completion of the acquisition of
& Safety and Sea Technology (collectively "
/Ryan is a leading manufacturer, distributor and safety certification provider for the Offshore and Marine industries. The company is headquartered in
with operations in
, Louisiana. The company is a distributor of some of the best known equipment manufacturers as well as a certified service facility for a variety of rescue and survival craft.
/Ryan also provides technical services, inspections and field certification for a wide range of systems found in Offshore and Marine applications.
Drew Marine is a global leading provider of technical solutions and services to the marine industry specializing in Fire Safety and Rescue ("FSR"), Water Treatment, Cleaning & Coatings, Fuel Management, Welding & Refrigeration and Sealing Products.
, President and CEO of Drew Marine, said: "
and Safety is a perfect fit with Drew Marine's strategy to grow in the Offshore industry and expand our product offerings in maritime safety. We are pleased to welcome the
/Ryan team of professionals to Drew Marine."
, President of
& Safety, said: "We are excited about combining
/Ryan with Drew Marine. The Drew Marine reputation for quality, technology and services coincides with
/Ryan's mission and history of providing our customers with superior products and services. On behalf of the entire
& Safety team, we look forward to working together with Drew Marine to continue to grow our business."
Drew Marine was acquired in
by investment affiliates of
& Company, a leading middle-market private equity firm focused on the defense, aerospace and maritime sectors. "Drew Marine continues to make significant strides in expanding its FSR suite of capabilities," said
, Partner. "
/Ryan exhibits many of the attributes
& Company seeks in acquisition candidates – a leading market position, blue-chip customer base and a strong reputation for quality and performance. This is yet another milestone for Drew Marine as it continues to pursue new opportunities for growth."
Senior debt financing for the acquisition was arranged by BNP Paribas Securities Corp. (as sole lead arranger). Jones Day LLP provided legal counsel to Drew Marine.