Ok
The divestment of Falck Safety Services is in line with Falck’s overall strategy to focus on its core business. Falck President & CEO Jakob Riis said:
“We are focusing our business and reducing complexity to build leadership in our core business areas. Safety Services is a leader in rescue and safety training. During recent years, Safety Services has reduced cost significantly and is well into its turn-around that was initiated following the recent recession in the oil and gas sector. We have evaluated the future ownership of Safety Services. We believe that Polaris can provide the focus and financial capacity needed to enhance Safety Services’ leadership.”
Polaris is a Danish-owned private equity firm with activities across a range of industries and experience building growth companies, including providers of critical services to the renewable energy industry, among others. Partner and CFO at Polaris Henrik Bonnerup said:
“Safety Services is an exciting and globally leading company with the broadest range of nationally and internationally accredited training courses in the world. We see good growth opportunities in the company’s markets where increasing safety demands and a higher degree of outsourcing to professional partners generate great potential. Safety Services’ competent employees, its unique offering to customers and the company’s strong market position form a great platform for generating growth and building an even stronger business based on world-class customer service and global operating procedures.”
Torben Harring will continue as CEO of Safety Services under Polaris’ ownership. Harring said:
“Polaris’ ownership strengthens Safety Services. Following the effect of the downturn in the oil and gas sector, we conducted a thorough and necessary global cost adjustment and carved out one third of our cost base. In parallel we initiated the process of streamlining the business. With the outlook to improve profitability significantly and with Polaris as a new strong owner prepared to fuel our growth, we can now fully focus on accelerating the transformation and development of our business. I’m looking very much forward to start collaboration with Polaris.”
The parties have agreed not to disclose the sales price, and closing is expected during September 2018.
Contact
Falck press service on +45 7022 0307 or write to comms@falck.com Polaris, Henrik Bonnerup on +45 2166 8766 or write to hb@polarisequity.dk
About Falck Safety Services
Falck Safety Services is an international leader in rescue and safety training, providing safety services to the oil & gas, maritime, renewable energy and other high-risk industries. Falck Safety Services trains staff in safe conduct and survival skills aimed at preventing accidents and injuries. Falck has built these activities from their origin in Denmark into an international leader with 1,000 employees at 33 centres in 20 countries around the world.
Read more about Falck Safety Services
About Falck
Falck is an international leader in the ambulance and healthcare markets. With more than 100 years of experience, Falck works together with local and national authorities to prevent accidents, illness and emergency situations, to rescue and assist people in emergencies quickly and competently and to rehabilitate people after illness and injury. Falck operates in 35 countries and has more than 37,300 employees.
Read more about Falck at: www.falck.com
About Polaris
Polaris is a Danish/Swedish private equity firm headquartered in Copenhagen, which invests in well- established medium sized companies in the Nordics. Since 1998, Polaris has raised 4 funds and obtained capital commitments of EUR 1.2bn. Polaris’ focus is to invest in companies with growth and development potential. To date, Polaris has invested in 38 companies and completed more than 60 add-on investments. Polaris currently owns 13 companies with total revenue of EUR +1bn and 5,000 employees.
Read more about Polaris at: www.polarisequity.dk
Next read
-
Relyon Nutec and SACS Group Form a Strategic Partnership
RelyOn Nutec is delighted to announce the signing of a memorandum of understanding (MOU) with SACS Group
Article 2. June 2023 -
-
Thomson Bridge: Innovating Electrical Safety Training for the Energy Industry
Introducing Thomson Bridge, our global electrical safety training partner.
Article 23. May 2023 -
RelyOn Nutec Partner With TAC Healthcare to Offer Specialist Occupational Health Services
We’re delighted to announce that we’ve entered into a partnership with TAC Healthcare to deliver occupational healthcare services to RelyOn customers across the UK.
Article 17. May 2023 -
Securing the Future of Wind Energy: Insights from Wind Europe 2023 on Cybersecurity in the Digital Era
In this article, we will explore some of the key takeaways from RelyOn Nutec's experience at the 2023 Wind Europe conference and what they mean for the future of wind energy, especially when it comes to digitizing the energy sector.
Article 10. May 2023 -
RelyOn Nutec and Clyde Marine Training Limited Sign a Strategic Global Partnership
The RelyOn Nutec Group is delighted to announce the signing of a strategic global partnership agreement with Clyde Marine Training Limited (CMT).
Article 10. May 2023 -
Safety as One: Why the Uk’s Energy Transition Needs a Holistic Overhaul of Training
By Bob Donnelly, UK Managing Director at RelyOn Nutec
Article 10. May 2023 -
Article 8. May 2023