Halma PLC Acquisition (5505H)
November 16 2018 - 2:00AM
UK Regulatory
TIDMHLMA
RNS Number : 5505H
Halma PLC
16 November 2018
Halma, the leading safety, health and environmental technology
group, today announces the acquisition of Navtech Radar Ltd., a
provider of innovative radar surveillance and safety solutions for
use in highway monitoring, perimeter security and industrial
applications [see Note 1].
Navtech is based in Wantage, Oxfordshire, and will become part
of the Group's Infrastructure Safety Sector. The existing
management team will remain with the business.
The initial cash consideration is GBP21 million on a cash- and
debt-free basis, funded from Halma's existing facilities. Further
earn-out considerations, capped at a total of GBP18 million, are
payable in cash, dependent on profit growth in each of the three
financial years to the end of March 2021. Navtech's revenue in the
year to 31 March 2018 was GBP6.2 million and the acquisition is
expected to be immediately earnings enhancing.
Andrew Williams, Halma's Chief Executive, commented:
"Navtech is an exciting addition to our Infrastructure Safety
business and builds on our existing strengths in sensing vehicles,
people and assets for safety and control applications. It has
valuable IP in radar-based hardware and software solutions and also
adds a new presence in the fast growing highway and critical
infrastructure safety market niches. As well as adding these new
capabilities to the Group, I am confident that Navtech will benefit
from all of Halma's strategic Growth Enablers, including
International Expansion and Digital Growth, to accelerate and
sustain growth in the future."
For further information, please
contact:
Halma plc
Andrew Williams, Chief Executive Switchboard: +44 (0)1494 721111
Marc Ronchetti, Chief Financial
Officer
Charles King, Head of Investor Mobile: +44 (0)7776 685948
Relations
MHP Communications
Rachel Hirst/ Andrew Jaques +44 (0)20 3128 8100
About Halma
Halma is a global group of life-saving technology companies,
focused on creating a safer, cleaner and healthier future for
people worldwide. Our innovative products and solutions address
many of the key issues facing the world today. We operate in four
sectors: Process Safety, Infrastructure Safety, Medical and
Environmental & Analysis. We employ over 6,000 people in 20
countries, with major operations in Europe, the USA and
Asia-Pacific. We target global niche markets where sustainable
growth and high returns are supported by long-term drivers. Halma
is listed on the London Stock Exchange and has been a member of the
FTSE 100 index since December 2017.
Notes
1. Global demand in the highway market is increasing rapidly,
driven by governments' focus on reducing road incidents by
regulation mandating automated incident detection in road tunnels
and by the new challenges created by smart motorways. In critical
infrastructure, Navtech is addressing the increasing need for
innovative, cost-effective and highly secure perimeter
protection.
Further information on Navtech can be found on its website
www.navtechradar.com
2. This statement is not intended to constitute a profit
forecast for the current financial period or for any future period.
In addition, this statement should not be taken to mean that the
earnings per share of Halma will necessarily match or exceed the
historic reported earnings per share of Halma.
3. Halma results for the half year to 30 September 2018 will be issued on 20 November 2018.
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END
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