REG - Halma PLC - Acquisition

HalmaAnnouncement

05/05/2023 07:00

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RNS Number : 4875Y  Halma PLC  05 May 2023

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

Acquisition

 

Halma, the global group of life-saving technology companies, today announces
that it has agreed to acquire Sewertronics Sp. Z o.o. (Sewertronics).

 

Sewertronics' technology repairs and rehabilitates wastewater pipelines
without the need to dig a trench, by inserting a lining into the pipe, which
is then cured using its innovative and patented ultraviolet (UV) LED
technology. This UV technology has less impact on the environment, is more
efficient, less disruptive and safer than other curing methods that use hot
water or steam. Sewertronics is based in Rzeszów, Poland, and it has sales
and service partners in most major regions.

 

The initial cash consideration for Sewertronics
is €41m (approximately £36m) on a cash- and debt-free basis, to be
funded from Halma's existing facilities. Additional considerations of up to
€18m (approximately £16m) may be payable in cash, based on the fulfilment
of certain conditions. Completion of the acquisition is subject to certain
closing conditions and is expected to occur by the end of May 2023.

 

Sewertronics' unaudited revenue for the 12 months to 31 December 2022
was €8.1m (approximately £7.1m). Sewertronics will be a standalone
company within Halma's Environmental & Analysis sector, and will
collaborate with Minicam and Dancutter, existing Halma portfolio companies,
who operate in the same end-user markets.

 

Marc Ronchetti, Group Chief Executive of Halma, commented:

 

"Sewertronics is highly aligned to our purpose, helping to protect the
environment by reducing blockages and leakage in wastewater pipes. We expect
Sewertronics' growth to be driven by the increasing need to repair ageing
wastewater infrastructure and reduce wastewater leaks, and by investment in
innovative technologies which minimise the disruption to surrounding
infrastructure and reduce the resources required to carry out repairs."

César Gómez, Chief Executive Officer and Founder of Sewertronics, commented:

 

"Overcrowded cities, heavy downpours and climate change are all putting
increasing pressure on wastewater infrastructure. Our technology helps to
prevent wastewater pollution, while maximising efficiency and safety when
repairing pipes and avoiding the need for disruptive and expensive excavation.
Sewertronics is highly aligned with Halma's purpose of growing a safer,
cleaner, healthier future for everyone, every day. By joining Halma, we will
benefit from its global network, resources and expertise, and from
collaboration with other Halma companies, particularly those focused on
solutions for the wastewater sector."

 

For further information, please contact:

Halma plc

Marc Ronchetti, Group Chief
Executive                                 +44
(0)1494 721111

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 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 7,500 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.

Halma is named as one of Britain's Most Admired Companies and has retained its
No. 1 ranking in the Engineering sector over the past four years.

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

Further information on Sewertronics is available at www.sewertronics.com
(http://www.sewertronics.com) .

 

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