Carillion chairman lined up to head board of life jacket maker Survitec

Oliver Gill
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Founded in 1920, Survitec markets itself as a "global leader in survival and safety solutions" (Source: Getty)

British life jacket manufacturer Survitec is about to raid the boardroom of ailing contractor Carillion by picking its chairman for a new role.

The Birkenhead-based firm has lined up Philip Green to also serve as its chairman.

Finalising Green's appointment has been hampered by Carillion being hit by wave after wave of problems in the second half of 2017.

Sources told Sky News that terms for Green to replace current Survitec chair Simon Withey had not been signed but a deal was close.

Read more: Carillion’s banks were left on the sidelines while shares plummeted

Green, who was drafted in by Royal Bank of Scotland subsidiary Williams & Glynn to oversee its doomed IPO as chairman, is understood to be considering quitting as chairman of industrial pumping equipment manufacturer BakerCorp to free up time in his diary.

Survitec is owned by Canadian private equity house Onex and markets itself as a "global leader in survival and safety solutions". Founded in 1920, the firm employs around 3,000 staff worldwide.

Survitec declined to comment.

Read more: Onex looks to resuscitate UK’s Survitec with $680m takeover

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