Onex agreed to buy Survitec this week for 450 million pounds from Warburg Pincus, which had bought Survitec from private equity group Montagu in 2010 for 280 million pounds.

Reuters reported last year that the U.S. private equity house had been looking to sell the company, potentially for more than 500 million pounds.

BNP Paribas (>> BNP PARIBAS), ING (>> ING GROEP), Natixis (>> Natixis) and UniCredit (>> UniCredit SpA) provided the 300 million pound debt financing, expected to be syndicated to investors in the next few weeks, the sources said.

The financing includes around 250 million pounds of term loans and around 50 million pounds of undrawn facilities, the sources said.

Onex was not immediately available to comment.

Survitec, which makes equipment ranging from lifejackets to anti-gravity suits, had 234 million pounds in revenue in the year to March 31, 2014.

(Editing by David Holmes)

By Claire Ruckin

Stocks treated in this article : BNP PARIBAS, Natixis, ING GROEP, UniCredit SpA