Halma plc ('Halma' or the 'Group')
Acquisition
Halma, the global group of life-saving technology companies, today announces that it has acquired G.F.E. - Global Fire Equipment, S.A. ("GFE") for its Safety Sector fire detection company, Ampac Pty Ltd (Ampac).
Headquartered in Faro, Portugal, GFE designs and manufactures fire detection and alarm systems. Its product portfolio includes control panel equipment, fire detectors, sounders and emergency lighting for commercial customers. Its technologies are complementary to Ampac's and those of our existing portfolio of market-leading fire detection companies. The acquisition extends Ampac's presence in Europe in the complete fire systems market.
The consideration for GFE is €42.5m (approximately £36m), on a cash- and debt-free basis, which will be paid in cash and funded from Halma's existing facilities. GFE's unaudited revenue for the 12 months to 31 March 2024 was €16.2m (approximately £13.7m), with an adjusted EBIT margin above Halma's target range of 19-23%.
Marc Ronchetti, Group Chief Executive of Halma, said:
"GFE's technologies are complementary to Ampac's fire safety systems portfolio and will further expand the geographical markets it serves. We are excited by the opportunities we continue to see for purpose-aligned acquisitions to join Halma. It is also great to see our existing companies adding new capabilities and distribution reach through bolt-on acquisitions to accelerate their long-term growth. We are delighted to welcome GFE to our portfolio of market-leading fire detection companies."
Tony Messercola, Managing Director, Ampac, said:
"We are pleased to add GFE to our portfolio of fire detection and evacuation systems. GFE has a strong brand reputation, backed by proven technology and outstanding customer service. This acquisition aligns with our strategy of expanding our presence internationally and providing the most effective fire detection and evacuation solutions in the industry."
For further information, please contact:
Halma plc
Marc Ronchetti, Group Chief Executive +44 (0)1494 721111
Steve Gunning, Group Chief Financial Officer
Charles King, Head of Investor Relations +44 (0) 7776 685948
Clayton Hirst, Director of Corporate Affairs +44 (0) 7384 796013
MHP
Oliver Hughes / Rachel Farrington / Ollie Hoare +44 (0)7817 458804
A copy of this announcement, together with other information about Halma, is available at www.halma.com.
About Halma
Halma is a global group of life-saving technology companies, focused on growing a safer, cleaner, healthier future for everyone, every day. Its purpose defines the three broad markets it operates in:
· Safety - Protecting people's safety and the environment as populations grow and enhancing worker safety.
· Environment - Addressing the impacts of climate change, pollution and waste, protecting life-critical resources and supporting scientific research.
· Health - Meeting the increasing demand for better healthcare as chronic illness rises, driven by growing and ageing populations and lifestyle changes.
It employs over 8,000 people in more than 20 countries, with major operations in the UK, Mainland Europe, the USA and Asia Pacific. Halma is listed on the London Stock Exchange (LON: HLMA) and is a constituent of the FTSE 100 index.
Halma has been named as one of Britain's Most Admired Companies for the past six years.
For more information www.halma.com
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