Pacific Mercantile Bank provided a $6.5 million credit facility to Survival Systems International (SSI), along with a full suite of Pacific Mercantile Bank’s depository products and treasury management services.
Headquartered in San Diego, Survival Systems is an innovative lifeboat manufacturing company that provides offshore operators with the equipment, instruction and knowledge to achieve a safe evacuation when an emergency occurs on an offshore installation. With 10 service bases worldwide, SSI focuses on marine safety through routine maintenance, overload testing, fast rescue craft maintenance, and onshore/offshore repairs. In 50 years of continuous service to the industry, SSI’s single cable launched survival systems have successfully evacuated over 2,200 offshore personnel in more than 60 emergency incidents. SSI also produces ballistic foam for military helicopters and airplanes to increase survivability.
“In evaluating potential banking partners, Pacific Mercantile Bank set themselves apart from the competition by understanding our business needs in a way that no other bank has,” said George Beatty, SSI CEO. “Their Horizon Analytics tool provides great insight into our business and demonstrated Pacific Mercantile Bank’s strong commitment to helping our company succeed. With the support of Pacific Mercantile Bank, we can continue delivering the best lifeboat equipment and training in the industry and ensuring that offshore operators have the tools they need to safely evacuate their personnel in the event of emergencies.”
“Offshore operators around the world rely on Survival Systems International to keep their personnel safe,” said Jeanette Melton, vice president and senior relationship manager at Pacific Mercantile. “We are very pleased to support the company and help it to continue its important work to innovate and advance marine safety.”
Founded in 1999, Pacific Mercantile Bank provides a wide range of commercial banking services to businesses, business professionals and individual clients. The Bank is headquartered in Orange County and has seven locations in Southern California, located in Orange, Los Angeles, San Diego, and San Bernardino counties.
