TIDMHLMA
RNS Number : 3812U
Halma PLC
28 March 2023
Halma plc ('Halma' or the 'Group')
Acquisition
Halma, the global group of life-saving technology companies
focused on growing a safer, cleaner and healthier future for
everyone every day, today announces that it has acquired
FirePro.
FirePro is a leading designer and manufacturer of aerosol-based
fire suppression systems. Its systems protect people, critical
infrastructure and equipment from fire using a non-pressurised
condensed aerosol technology which does not contain ozone depleting
substances or fluorinated greenhouse gases and extinguishes fire
without causing damage to the environment. Further information on
FirePro is given in the note at the end of this announcement.
The consideration for FirePro is EUR150m (approximately GBP132m)
on a cash- and debt-free basis. FirePro's unaudited revenue for the
12 months to 31 December 2022 was EUR23.3 m (approximately GBP21m),
with Return on Sales more than double Halma's target range of
18-22%. The consideration will be paid in cash and funded from
Halma's existing facilities. FirePro will operate as a standalone
company within Halma's Safety sector and continue to be led by its
current management team.
Andrew Williams, Group Chief Executive of Halma, commented:
"The acquisition of FirePro represents a valuable addition to
our portfolio of fire detection and suppression solutions. Its
technologies provide a sustainable alternative to established
pressurised gas fire suppression solutions. There are strong
opportunities for growth in its existing market niches, driven by
higher regulatory standards, and the adoption of new technologies
for renewable energy are creating new opportunities for growth. We
are delighted to welcome FirePro to Halma and look forward to
working with the team to expand FirePro's global impact."
Avgoustinos Avgousti, Managing Director, FirePro, said:
"FirePro's success and growth has been built on creating fire
safety solutions which protect people and the environment. By
joining Halma, we gain access to new capabilities and collaborative
opportunities with a global group of businesses which is aligned
with FirePro's purpose of protecting human life."
For further information, please contact:
Halma plc
Andrew Williams, Group Chief Executive +44 (0)1494 721111
Marc Ronchetti, Group Chief Executive Designate
Steve Gunning, Chief Financial Officer
Charles King, Head of Investor Relations +44 (0) 7776 685948
Clayton Hirst, Director of Corporate Affairs +44 (0) 7384 796 013
MHP
Simon Hockridge / Rachel Farrington / Ollie Hoare +44 (0)20 3128 8789 / 8613 / 8276
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 market areas where it
operates:
-- Safety: protecting life as populations grow and protecting worker safety.
-- Environment: addressing the impacts of climate change,
pollution and waste, protecting life-critical resources and
supporting scientific research.
-- Health: meeting rising healthcare demand as growing populations age and lifestyles change.
It employs over 7,000 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.
For the past three years Halma has been named one of Britain's
Most Admired Companies by Management Today.
For more information: www.halma.com
Further information on FirePro
Founded in 1996, FirePro designs, manufactures and distributes
fire suppression systems based on a condensed aerosol technology,
using a naturally occurring potassium salt which poses no threat to
the environment once activated. Its products are manufactured with
materials that, at the end of their useful lifetime, can be
recycled or re-used without waste. They are ozone-friendly, contain
no CFCs, bear the Green Label Certificate and are listed as an
acceptable agent in the EPA-SNAP Listed (Significant New
Alternative Policy) in the US.
FirePro's products have been installed in over 110 countries and
the company has distribution partners in 94 countries. Its
customers operate in a broad range of sectors, including transport,
manufacturing, healthcare, energy and communications, and include
companies such as Samsung, Pfizer, Eurostar and Glencore. FirePro
holds 12 registrations from 10 globally recognised certification
bodies and it holds a number of patents for technologies employed
in its fire suppression systems.
FirePro's headquarters are in Limassol, Cyprus, and it employs
90 people.
Further information on FirePro is available at
www.firepro.com
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