REG - Halma PLC - Acquisition

HalmaAnnouncement

01/05/2024 07:00

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RNS Number : 6925M  Halma PLC  01 May 2024

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

Acquisition

Halma, the global group of life-saving technology companies, today announces
that it has acquired MK Test Systems Limited (MK Test).

Founded in 1990 and headquartered in Wellington, Somerset, UK, MK Test designs
and manufactures safety-critical electrical testing technology. Its products
are used globally to test the integrity of high voltage electrical systems in
aerospace, rail and commercial EV industries.

The cash consideration for MK Test is £44m, on a cash- and debt-free basis,
to be funded from Halma's existing facilities. MK Test's unaudited revenue for
the 12 months to March 2024 was £12.4m, with Return on Sales substantially
above the upper end of Halma's target range of 18-22%. MK Test will be a
standalone company within Halma's Safety sector, led by its current management
team.

Marc Ronchetti, Group Chief Executive of Halma, commented:

"MK Test further enhances our capabilities in electrical safety and brings new
opportunities for growth, driven by increasing safety regulation and the need
to protect high value assets. Its technology plays an important role in
automated electrical testing and in ensuring the integrity of electrical
systems. We are delighted to welcome MK Test and to support its development as
it continues to scale its business globally."

Jason Evans, Managing Director of MK Test, said:

"Passenger and operator safety is a top priority for our customers. They must
ensure that platforms and machines with increasingly complex electrical
systems are manufactured and assembled correctly, are operating within
specification, and are being properly maintained. Joining Halma means we can
grow our business in key markets while helping more businesses meet increasing
safety regulations and demands for test traceability. MK Test Systems is
aligned with Halma's purpose of growing a safer, cleaner, healthier future for
everyone, every day."

For further information, please contact:

Halma plc

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

Steve Gunning, Group Chief Financial Officer

Melanie Horton, Deputy Head of Investor Relations             +44 (0)
7554 013 396

Clayton Hirst, Director of Corporate
Affairs                          +44 (0) 7384 796
013

MHP

Oliver Hughes / Rachel Farrington / Ollie Hoare
        +44 (0)20 3128 8100

A copy of this announcement, together with other information about Halma, is
available at www.halma.com (http://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 8,000 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.

Halma has been named as one of Britain's Most Admired Companies for the past
six years.

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

 

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