REG - Halma PLC - Acquisition

HalmaAnnouncement

28/03/2023 07:00

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RNS Number : 3812U  Halma PLC  28 March 2023

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 FirePro.

 

FirePro is a leading designer and manufacturer of aerosol-based fire
suppression systems. Its systems protect people, critical infrastructure and
equipment from fire using a non-pressurised condensed aerosol technology which
does not contain ozone depleting substances or fluorinated greenhouse gases
and extinguishes fire without causing damage to the environment. Further
information on FirePro is given in the note at the end of this announcement.

 

The consideration for FirePro is €150m (approximately £132m) on a cash- and
debt-free basis. FirePro's unaudited revenue for the 12 months to 31 December
2022 was €23.3m (approximately £21m), with Return on Sales more than double
Halma's target range of 18-22%. The consideration will be paid in cash and
funded from Halma's existing facilities. FirePro will operate as a standalone
company within Halma's Safety sector and continue to be led by its current
management team.

 

Andrew Williams, Group Chief Executive of Halma, commented:

 

"The acquisition of FirePro represents a valuable addition to our portfolio of
fire detection and suppression solutions. Its technologies provide a
sustainable alternative to established pressurised gas fire suppression
solutions. There are strong opportunities for growth in its existing market
niches, driven by higher regulatory standards, and the adoption of new
technologies for renewable energy are creating new opportunities for growth.
We are delighted to welcome FirePro to Halma and look forward to working with
the team to expand FirePro's global impact."

 

Avgoustinos Avgousti, Managing Director, FirePro, said:

 

"FirePro's success and growth has been built on creating fire safety solutions
which protect people and the environment. By joining Halma, we gain access to
new capabilities and collaborative opportunities with a global group of
businesses which is aligned with FirePro's purpose of protecting human life."

 

For further information, please contact:

 

Halma plc

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

Marc Ronchetti, Group Chief Executive Designate

Steve Gunning, 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

Simon Hockridge / Rachel Farrington / Ollie Hoare              +44
(0)20 3128 8789 / 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 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.

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 FirePro

Founded in 1996, FirePro designs, manufactures and distributes fire
suppression systems based on a condensed aerosol technology, using a naturally
occurring potassium salt which poses no threat to the environment once
activated. Its products are manufactured with materials that, at the end of
their useful lifetime, can be recycled or re-used without waste. They are
ozone-friendly, contain no CFCs, bear the Green Label Certificate and are
listed as an acceptable agent in the EPA-SNAP Listed (Significant New
Alternative Policy) in the US.

 

FirePro's products have been installed in over 110 countries and the company
has distribution partners in 94 countries. Its customers operate in a broad
range of sectors, including transport, manufacturing, healthcare, energy and
communications, and include companies such as Samsung, Pfizer, Eurostar and
Glencore. FirePro holds 12 registrations from 10 globally recognised
certification bodies and it holds a number of patents for technologies
employed in its fire suppression systems.

 

FirePro's headquarters are in Limassol, Cyprus, and it employs 90 people.

Further information on FirePro is available at www.firepro.com
(http://www.firepro.com)

 

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