Halma buys fire extinguisher supplier FirePro for EUR150 million cash

(Alliance News) - Halma PLC on Monday said it acquired designer of aerosol-based fire suppression systems, FirePro.

The Buckinghamshire-based safety equipment manufacturer said it bought FirePro for a consideration of EUR150 million on a cash-and debt-free basis.

Halma said the consideration will be paid in cash and funded from Halma's existing facilities. FirePro will operate as a standalone company and will continue to be led by its current management team, Halma noted.

FirePro's 2022 revenue was EUR23.3 million, with return on sales doubled Halma's target range of 18-22%.

Halma Chief Executive Andrew Williams said: ""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."

Halma shares were up 1.1% at 2,141.00 pence in London on Tuesday morning

By Sabrina Penty; Alliance News reporter

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