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HLMA - Halma News Story

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Sector
Industrials
Size
Large Cap
Market Cap £8.48bn
Enterprise Value £8.79bn
Revenue £1.30bn
Position in Universe 126th / 1809

Halma PLC - Disposal

Fri 18th December, 2020 7:00am
RNS Number : 0768J
Halma PLC
18 December 2020
 

Halma plc ('Halma')

 

Sale of Fiberguide Industries
 

Halma, the global group of life-saving technology companies focused on growing a safer, cleaner and healthier future, today announces that it has sold Fiberguide Industries, Inc. ("Fiberguide") to Molex for a total cash consideration of $38 million (£28.1 million4) on a cash and debt free basis. 

 

Fiberguide, which was acquired by Halma in 2008, is a manufacturer of fibre optic technology headquartered in Idaho, USA. For additional information, see note 3.

 

Molex, a manufacturer of electronic, electrical and fibre optic connectivity systems, is closely aligned to Fiberguide's core business. Molex's business model of acquiring and growing businesses over the long term, alongside its existing fibre optic manufacturing infrastructure, will provide Fiberguide with a strong platform to enable its future growth.

 

The divestment is in line with Halma's strategy of actively managing its portfolio of global businesses to ensure it is aligned with its purpose and maintains strong growth and returns over the long term.

 

Andrew Williams, Group Chief Executive at Halma, commented:

 

"We are pleased to have found a new home for Fiberguide. Molex, as a manufacturer of fibre optic connectivity systems, has the infrastructure in place to support Fiberguide's future development. We are confident that this will help Fiberguide better serve its customers, employees and suppliers while enabling Halma to continue to invest in high growth businesses that are closely aligned with our purpose. We'd like to thank the Fiberguide leadership team and all of its employees for their contribution to the Group and wish them well for the future."

 

For further information, please contact:

 

 

Halma plc

 

Andrew Williams, Group Chief Executive

+44 (0)1494 721111

Marc Ronchetti, Chief Financial Officer

 

Investor Relations

+44 (0)7469 851962

MHP Communications

 

Andrew Jaques / Giles Robinson

+44 (0)20 3128 8788

 

A copy of this announcement, together with other information about Halma, may be viewed on its website:  www.halma.com

 

Notes:

 

1.

Halma is a global group of life-saving technology companies, focused on growing a safer, cleaner and healthier future for everyone, every day. Our innovative products and solutions address many of the key issues facing the world today. The Group comprises four business sectors:

 

 

·    Process Safety

Technologies that protect people and assets at work.

 

 

·    Infrastructure Safety

Technologies that save lives, protect infrastructure and enable safe movement in public spaces.

 

 

·    Environmental & Analysis

Technologies to improve environmental protection and the security of life-critical resources.

 

 

·    Medical

Technologies which enhance the quality of life for patients and improve the quality of care delivered by healthcare providers.

 

 

 

The key characteristics of Halma's businesses are specialist technology and application knowledge for niches within markets offering strong long-term growth potential. Many Group businesses are market leaders in their specialist fields.

 

 2.

For more information on Halma's Growth Enablers visit: https://www.halma.com/how-we-grow#page-intro-2

 

3.         Fiberguide Industries Inc was acquired by Halma in 2008 for an initial consideration of $14.0 million (£7.9 million5) and performance based variable consideration for growth in its first 2 years under Halma ownership of $4.3m (£2.8m6). A gain will be recognised on disposal. In calendar year 2007, it reported revenue of $10.7 million (£6.0 million5).  In the financial year ended 31 March 2020 Fiberguide reported gross revenue of $23.6 million (£18.6 million7).

 

4.         At an exchange rate of US$1.35: £1.

 

5.         At an exchange rate of US$1.77: £1.

 

6.         At an exchange rate of US$1.56: £1.

 

7.         At an exchange rate of US$1.27: £1.

 

 

 

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