$100m bond issue for safety specialist 3t to fund more acquisitions and global growth

Safety training specialist 3t has raised $100m through a bond issue on the Norwegian stock market - and plans to use the cash to make acquisitions and grow worldwide.

The 3t group offers safety training, tech and simulation systems to the energy, marine and industrial sectors. The ambitious group- which owns Aberdeen’s 3t Training Services, formerly AIS Survivex - now plans “to pursue planned strategic acquisitions designed to boost its growth trajectory, competitiveness and its continuing commitment to innovation”.

Kevin Franklin, CEO of 3t, said: "Our successful bond issuance marks a pivotal moment for 3t as we continue to pursue our ambitious growth objectives through 2024, and beyond.”

He added: “This financing will provide us with the necessary resources to pursue strategic opportunities we have on the horizon complementing our existing capabilities. These plans will accelerate our expansion into growing markets, ultimately fortifying our position as the industry frontrunner.”

3t is already backed by specialist investor Bluewater, whose partnership has helped drive the business to revenues of almost $100m.

Mr Franklin added: “This financing underscores the confidence of investors in 3t, our growth prospects and strategic vision.

“We are excited about the opportunities we have lined up for this year, and beyond, and remain committed to driving value for our customers throughout the world and to continue leading the way in addressing international skills shortages with our best-in-class training and learning solutions.”

3t partnered with Arctic Securities and Pareto Securities as joint backers of the bond deal. The bonds will be listed in Oslo.

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