Polaris sells RelyOn Nutec to Mubadala Capital

Private Equity Wire

Copenhagen-based private investment firm Polaris will sell global safety training and competence provider RelyOn Nutec to Mubadala Capital, the asset management subsidiary of Abu Dhabi-based sovereign investor Mubadala Investment Company.

Polaris partnered with RelyOn Nutec (formerly Falck Safety Services) in 2018, with the company now serving industries including energy infrastructure, renewables, maritime and oil and gas. The company’s operational performance reached revenue of DKK1,086m and operating profit of DKK257m in 2023, according to a press statement.

Financial details of the deal, which is subject to regulatory approvals and is expected to close during the summer of 2024, have not been disclosed.

Following completion of the acquisition, Torben Harring will continue as Group CEO, and there will be no changes to RelyOn Nutec’s organisation or existing customer relationships.

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