Carlyle heads pack for Survitec

The Carlyle Group has emerged as the front-runner in the race for Survitec, the Northern Ireland-based survival equipment manufacturer currently owned by Montagu Private Equity.

According to the Independent, Montagu is running a second round of bids, with six parties believed to be in the running.

Montagu is hoping to pocket £300m from the sale, which is being arranged by NM Rothschild.

Montagu acquired Survitec in a £146m deal from Alchemy Partners five years ago.