REG - Halma PLC - Acquisition

HalmaAnnouncement

06/10/2022 07:01

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RNS Number : 9423B  Halma PLC  06 October 2022

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 WEETECH Holding GmbH (WEETECH).

Founded in 1973 and headquartered in Wertheim, Germany, WEETECH designs and
manufactures safety-critical electrical testing technology, to test the
integrity of both high and low voltage electrical systems. Their modular
products are used in a range of mechanical and electrical engineering
industries, including aerospace, avionics, rail and by Tier 1 automotive
manufacturers.

The consideration for WEETECH is €57.5m (approximately £50m), on a cash-
and debt-free basis, and will be paid in cash and funded from Halma's existing
facilities. WEETECH's unaudited revenue for the 12 months to 31 March 2022 was
€20.8m (approximately £18m), with Return on Sales modestly above the upper
end of Halma's target range of 18-22%. WEETECH will be led by its current
management team and operate as a standalone company within Halma's Safety
sector.

Andrew Williams, Group Chief Executive of Halma, commented:

"We are delighted to welcome WEETECH to Halma and look forward to supporting
their future development through our Growth Enablers. WEETECH brings new
opportunities for growth in electrical safety, driven by increasing safety
needs and greater regulation. Their technology will play an important
supporting role in addressing key issues such as growing urbanisation, the
challenge of energy transition and the adoption of more efficient modes of
transport, such as mass transit systems and electric vehicles."

Bernd Hartlein, Co-Chief Executive Officer of WEETECH said:

"Transporting people and goods causes one-fifth of global carbon emissions. As
consumers seek to reduce their carbon footprint, they are embracing electric
mobility. This transition means that cars, planes, buses, trains and other
electrical equipment will use more high voltage electricity. By joining Halma,
WEETECH can protect even more workers in dangerous testing environments around
the world. Together, we're committed to solving the big problems of our time,
reducing the impacts of climate change and ensuring people's safety."

For further information, please contact:

Halma plc

Andrew Williams, Group Chief Executive
                                      +44 (0)1494 721111

Marc Ronchetti, Group Chief Executive Designate and 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 enhancing worker
safety.

·    Environment: improving food and water quality, and monitoring air
pollution.

·    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.

For the past three years Halma has been named one of Britain's Most Admired
Companies by Management Today.

For more information www.halma.com (http://www.halma.com/)

Further information on WEETECH

Further information on WEETECH can be found at https://www.weetech.de/en/
(https://www.weetech.de/en/) .

Notes:

1.         Euro values are translated at an exchange rate of
£1:€1.14.

2.         Since 2016, WEETECH had been owned by funds advised by
PINOVA Capital.

 

 

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