Last checked at 19 Oct 2018 07:00
Halma, the leading safety, health and environmental technology group, today announces the acquisition of Limotec bvba, a leading fire control panel designer and manufacturer and fire system seller in the Belgian market.
Limotec is based in Vichte, Belgium, and will become part of Halma's Infrastructure Safety sector. Its existing management team will remain with the business.
The cash consideration for Limotec of €9.3 million (£8.2 million), on a cash and debt free basis, was funded from Halma's existing facilities. The acquisition was completed on 18 October, and is expected to be earnings enhancing. Limotec's revenue in its last financial year to end December 2017 was €6.7 million (£5.9 million).
Andrew Williams, Halma's Chief Executive, commented:
"Limotec strengthens our presence in continental Europe, bringing strong brand equity and robust technology to further enable us to capitalise on growth trends in fire detection, including increasing regulation and digitalisation. This acquisition follows our successful acquisition of Advanced Electronics in the UK in 2014 and is a further example of our strategy to acquire regional partners to accelerate growth in our core Fire Detection markets."
For further information, please contact:
Halma plc
Tel: +44 (0)1494 721111
Andrew Williams, Chief ExecutiveMarc Ronchetti, Chief Financial OfficerCharles King, Head of Investor Relations
MHP Communications
Tel: +44 (0)20 3128 8100Rachel Hirst/Andrew Jaques
About Halma
Halma is a market leader in specialist safety, health and environmental technologies, creating a safer, cleaner and healthier future for people worldwide. We target markets where sustainable growth and high returns are supported by long-term drivers. 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. In the year to 31 March 2018, the Group's revenues exceeded £1bn for the first time. Halma is listed on the London Stock Exchange and has been a member of the FTSE 100 index since December 2017.
Notes
1. Further information on Limotec can be found on its website www.limotec.be
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. Euro values were translated at a rate of €1.14:£1.
4. Halma's results for the half year to 30 September 2018 will be issued on 20 November 2018.