Polaris explores sale of offshore safety company

Polaris Equity has started looking for a buyer for the offshore safety company Relyon Nutec, formerly known as Falck Safety Services.

Relyon Nutec was formerly known as Falck Safety Services and makes its living by providing safety training to employees in the offshore industry. | Photo: Relyon Nutec.

by NIKLAS KRIGSLUND

The Danish company Relyon Nutec, which provides safety training for employees in the offshore industry, could be getting a new owner.

Business daily Børsen writes that the private equity firm Polaris Equity has hired Dutch bank Houlihan Lokey to scour the market for a potential buyer for the company.

Relyon Nutec’s CEO confirms that the owner is exploring a possible sale of the company, which is expected to reach DKK 1bn (USD 150m) in revenue in 2023.

”It is absolutely correct that we are in the process of making some initial efforts about how to get a new ownership in a good way. We have made a major transformation of the company, and therefore we are in the process of figuring out what a future ownership structure should look like,” CEO Torben Harring tells Børsen.

Polaris bought Relyon Nutec from the Falck Group in 2018. At that time, the company was called Falck Safety Services.

(This article is provided by our sister media, ShippingWatch)

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