REG - Halma PLC - Acquisitions

HalmaAnnouncement

25/10/2023 07:00

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RNS Number : 1552R  Halma PLC  25 October 2023

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

Acquisitions

Halma, the global group of life-saving technology companies, today announces
that it has completed two bolt-on acquisitions for an aggregate maximum total
consideration of approximately £46.5m.

 

In the Environmental and Analysis sector, Halma company, Alicat Scientific,
Inc. (Alicat), has acquired the Alpha Instrumatics Group (Alpha Instrumatics).

 

Based in Bradford, UK, Alpha Instrumatics designs and manufactures devices for
high-precision measurement of trace moisture found in gases. Trace moisture
analysis allows the safer operation of industrial equipment, more efficient
transfer of hydrocarbons, and more accurate detection of pollutants. Alpha
Instrumatics' devices are used in growth markets, including the industrial gas
and aerospace markets, as well as industries aligned to the new energy
transition. This acquisition extends Alicat's product offering in its existing
and adjacent end markets.

 

The initial cash consideration for Alpha Instrumatics is £31m, on a cash- and
debt-free basis, which will be funded from Halma's existing facilities.
Additional earn-out considerations are payable in cash, based on its
performance over each of the two financial years to 31 March 2025, up to an
aggregate maximum of £5.5m. Alpha Instrumatics' consolidated unaudited
revenue for the 12 months to 30 September 2023 was £7.8m, with Return on
Sales substantially above the upper end of Halma's target range of 18-22%.

 

In the Healthcare sector, Halma company, IZI Medical Products LLC (IZI), has
acquired AprioMed AB (AprioMed). AprioMed designs, manufactures and
distributes medical devices used for bone biopsies. This acquisition expands
IZI's offerings for minimally invasive procedures, complementing its products
used to diagnose and treat cancer.

 

The consideration for AprioMed is SEK130m (approximately £10m) on a cash- and
debt-free basis, which is funded from Halma's existing facilities. AprioMed's
unaudited revenue for the 12 months to 31 March 2023 was SEK40.0
(approximately £3.0m), with Return on Sales above Halma's target range of
18-22%.

Marc Ronchetti, Group Chief Executive of Halma, commented:

 

"Our companies have access to Halma expertise and capital to support their
growth locally and internationally.  These bolt-on acquisitions are strongly
aligned with our purpose and financial model and will bring complementary
capabilities to Alicat and IZI Medical, including new technologies and broader
market reach.  We are excited by the opportunities we see for new standalone
companies to join Halma and for our existing companies to add new capabilities
through bolt-on acquisitions to grow their businesses over the long term."

 

For further information, please contact:

Halma plc

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

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

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.

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
five years.

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

 

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