Last checked at 21 Feb 2022 07:00
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 International Light Technologies, Inc. (ILT) for its Environmental & Analysis sector business, Ocean Insight.
ILT, based in Peabody, Massachusetts, USA, is a leading developer of technical lighting sources and light measurement systems, which are used in biomedical, environmental, agricultural, food and beverage, and industrial applications. The consideration for ILT is US$26.6m (approximately £19.5m) on a cash and debt free basis, which is payable in cash and funded from Halma's existing facilities. For continuing operations, ILT's unaudited revenue for the 12 months to 31 October 2021 was US$9.9m (approximately £7.3m), and earnings before interest and tax was US$2.7m (£2m).
Andrew Williams, Group Chief Executive of Halma, commented:
"ILT's focus on the generation and measurement of light is highly aligned with Ocean Insight's mission to use the measurement of light to expand scientific discovery, reduce waste and improve the quality of life. ILT's products and services will bring complementary capabilities and technologies to Ocean Insight, allowing it to serve a greater range of customer needs."
For further information, please contact:
Halma plc
Andrew Williams, Group Chief Executive +44 (0)1494 721111
Marc Ronchetti, 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 Communications
Andrew Jaques / Rachel Farrington +44 (0)20 3128 8572
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.
In January 2022, Halma was named one of Britain's Most Admired Companies by Management Today.
Further information on ILT
Further information on ILT can be found at https://www.intl-lighttech.com .
ENDS