REG - Halma PLC - Acquisition

HalmaAnnouncement

01/02/2023 07:00

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RNS Number : 4870O  Halma PLC  01 February 2023

Halma plc ('Halma' or the 'Group')

Acquisition

Halma, the global group of life-saving technology companies, today announces
that it has acquired Thermocable (Flexible Elements) Ltd (Thermocable) for its
Safety sector fire detection company, Apollo Fire Detectors Limited (Apollo).

Thermocable is based in Bradford, UK, and is a leading developer and
manufacturer of Linear Heat Detectors (LHDs). LHDs are temperature sensitive
cables, installed in areas at risk of overheating and fire, which trigger an
alert when they detect a change of temperature. Thermocable's specialist
detection technologies further expand the range of devices Apollo offers in
the commercial and industrial fire detection markets.

The initial consideration for Thermocable is £22m, on a cash- and debt-free
basis, which will be funded from Halma's existing facilities. Thermocable's
unaudited revenue for the 12 months to 31 March 2022 was £6.3m, with Return
on Sales substantially above the upper end of Halma's target range of 18-22%.

Andrew Williams, Group Chief Executive of Halma, commented:

"Thermocable's specialist technologies will further enhance Apollo's existing
strengths in fire detection and alarm systems for industrial and commercial
customers. They will enable Apollo to address a greater range of customer
needs in niche applications for a variety of sectors such as urban
infrastructure and transportation, logistics, natural resources and emerging
applications in renewable power generation."

David Bulley, Managing Director of Apollo, commented:

"Our long-term growth is driven by increasing urbanisation, population growth
and safety regulation. With the acquisition of Thermocable, we will serve a
greater range of customer needs globally while offering an extra layer of
protection to help extinguish fires at the source before they cause serious
harm. Its technologies are highly aligned with Apollo's purpose to protect
people and their environment."

 

For further information, please contact:

Halma plc

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

Marc Ronchetti, Group Chief Executive
Designate

Steve Gunning, Group 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

Rachel Farrington / Ollie Hoare
                               +44 (0)20 3128 8613 / 8276

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 markets it operates in:

·    Safety - Protecting people's safety and the environment as
populations grow, and enhancing worker safety.

·    Environment - Addressing the impacts of climate change, pollution and
waste, protecting life-critical resources and supporting scientific research.

·    Health - Meeting the increasing demand for better healthcare as
chronic illness rises, driven by growing and ageing populations and lifestyle
changes.

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.

 

 

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