Last checked at 21 Jun 2019 07:00
Halma plc
Infrastructure Safety Acquisition, 21 June 2019.
Halma, the leading safety, health and environmental technology group, today announces that it has agreed to acquire the Ampac Group ("Ampac"), a leading fire and evacuation systems supplier in the Australian and New Zealand markets (see note 1).
Ampac will become part of the Group's Infrastructure Safety sector. The cash consideration for Ampac of A$135 million (£74 million2), on a cash and debt free basis, will be funded from Halma's existing facilities. Completion is subject to certain closing conditions and is expected to occur by no later than mid August 2019. In the twelve months ended June 2018, Ampac's revenue and EBIT were A$57 million (£31 million) and A$13.7m (£7.5m), respectively. Ampac is headquartered in Perth with offices in Australia, New Zealand and the UK. Ampac's management team will remain with the business.
Andrew Williams, Group Chief Executive at Halma, commented:
"This is an exciting acquisition that extends our geographic footprint and strengthens the intellectual property of our fire detection businesses. Ampac brings a strong brand, robust technology and well-established routes to market, and has been a partner for our business for several decades. Its highly complementary technologies will strengthen our value proposition, and it is well positioned to benefit from Halma's Growth Enablers.
"This is a further example of our strategy to acquire regional partners to accelerate growth in our core Fire Detection markets, following our successful acquisition of Limotec in Belgium in 2018, and Advanced Electronics in the UK in 2014. We look forward to Ampac joining Halma and to working with its management team."
For further information, please contact:
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Halma plc |
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Andrew Williams, Group Chief Executive | Switchboard: +44 (0)1494 721111 |
Marc Ronchetti, Chief Financial Officer |
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Charles King, Head of Investor Relations | Mobile: +44 (0)7776 685948 |
MHP Communications |
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Rachel Hirst/ Andrew Jaques | +44 (0)20 3128 8156 |
About Halma
Halma is a global group of life-saving technology companies, focused on creating a safer, cleaner and healthier future for people worldwide. Our innovative products and solutions address many of the key issues facing the world today. We operate in four sectors: Process Safety, Infrastructure Safety, Environmental & Analysis and Medical. We employ over 6,000 people in 20 countries, with major operations in Europe, the USA and Asia-Pacific. We target global niche markets where sustainable growth and high returns are supported by long-term drivers. Halma is listed on the London Stock Exchange and has been a member of the FTSE 100 index since December 2017.
Notes
1. The Ampac group of companies, headquartered in Australia, is a manufacturer of fire detection systems, including fire detection panels, sounders and beacons, and voice evacuation panels. They sell complete fire and evacuation systems under the Ampac brand, principally into Australia, New Zealand and UK.
2. Australian Dollar (AUD) values are translated at a rate of A$1.83: £1
3. For more information on Halma's Growth Enablers visit: https://www.halma.com/how-we-grow#page-intro-2