(Alliance News) - Halma PLC on Monday acquired three companies for a total of GBP48.8 million and sold security systems provider Texecom Ltd for GBP65 million.
FTSE 100-listed Halma is a safety equipment firm based in Amersham, England. The company operates across three sectors: Safety, Environmental & Analysis and Medical.
In its Safety sector, Halma acquired wireless fire system supplier Ramtech for GBP15.5 million in cash.
Meanwhile, in Environmental & Analysis, Halma's pipeline inspection systems business, Mini-Cam, acquired Dancutter A/S, a Danish designer and manufacturer of trenchless pipeline rehabilitation equipment for EUR18 million, or GBP15.4 million.
For EUR21 million or GBP17.9 million in cash, Halma also bought Sensitron Srl, a gas detection company based in Milan, Italy.
"Each acquisition is strongly aligned with our purpose and financial model and will bring complementary capabilities including new technologies and broader market reach. We look forward to working with the leadership groups of Ramtech, Dancutter and Sensitron as they seek to grow their businesses over the long term," said Halma's chief executive Andrew Williams.
Alongside its recent spree of acquisitions, Halma also completed the sale of electronic security firm Texecom for GBP65 million on a cash and debt free basis.
The company said the management buyout was supported by UK-based mid-market private equity investor LDC Ltd.
Halma initially acquired Texecom in 2005 for a GBP26.0 million consideration.
Texecom reported revenue of GBP19.2 million in the financial year ended August 31, 2005. This increased to GBP33.3 million by the financial year ended March 31, despite falling 17% from GBP39.9 million in financial 2020.
"Texecom's management team will continue to build on its market-leading position and international presence through developing new products, enhancing its digital services and exploring complementary acquisitions," the company added.
Shares in Halma were trading down 0.7% at 2,880.00 pence each in London on Monday morning.
By Scarlett Butler; scarlettbutler@alliancenews.com
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Halma (HLMA)
