TIDMHLMA

RNS Number : 0768J

Halma PLC

18 December 2020

Halma plc ('Halma')

Sale of Fiberguide Industries

Halma, the global group of life-saving technology companies focused on growing a safer, cleaner and healthier future, today announces that it has sold Fiberguide Industries, Inc. ("Fiberguide") to Molex for a total cash consideration of $38 million (GBP28.1 million(4) ) on a cash and debt free basis.

Fiberguide, which was acquired by Halma in 2008, is a manufacturer of fibre optic technology headquartered in Idaho, USA . For additional information, see note 3.

Molex, a manufacturer of electronic, electrical and fibre optic connectivity systems, is closely aligned to Fiberguide's core business. Molex's business model of acquiring and growing businesses over the long term, alongside its existing fibre optic manufacturing infrastructure, will provide Fiberguide with a strong platform to enable its future growth.

The divestment is in line with Halma's strategy of actively managing its portfolio of global businesses to ensure it is aligned with its purpose and maintains strong growth and returns over the long term.

Andrew Williams, Group Chief Executive at Halma, commented:

" We are pleased to have found a new home for Fiberguide. Molex, as a manufacturer of fibre optic connectivity systems, has the infrastructure in place to support Fiberguide's future development. We are confident that this will help Fiberguide better serve its customers, employees and suppliers while enabling Halma to continue to invest in high growth businesses that are closely aligned with our purpose. We'd like to thank the Fiberguide leadership team and all of its employees for their contribution to the Group and wish them well for the future."

 
For further information, please 
 contact: 
Halma plc 
Andrew Williams, Group Chief 
 Executive                        +44 (0)1494 721111 
Marc Ronchetti, Chief Financial 
 Officer 
Investor Relations                +44 (0)7469 851962 
MHP Communications 
Andrew Jaques / Giles Robinson    +44 (0)20 3128 8788

A copy of this announcement, together with other information about Halma, may be viewed on its website: www.halma.com

Notes:

 
 1.   Halma is a global group of life-saving technology companies, 
       focused on growing a safer, cleaner and healthier future 
       for everyone, every day. Our innovative products and solutions 
       address many of the key issues facing the world today. The 
       Group comprises four business sectors: 
                                             Technologies that protect people and 
             *    Process Safety              assets at work. 
                                             Technologies that save lives, protect 
             *    Infrastructure Safety       infrastructure and enable safe movement 
                                              in public spaces. 
                                             Technologies to improve environmental 
             *    Environmental & Analysis    protection and the security of life-critical 
                                              resources. 
                                             Technologies which enhance the quality 
             *    Medical                     of life for patients and improve the 
                                              quality of care delivered by healthcare 
                                              providers. 
 
 
       The key characteristics of Halma's businesses are specialist 
        technology and application knowledge for niches within markets 
        offering strong long-term growth potential. Many Group businesses 
        are market leaders in their specialist fields. 
  2.   For more information on Halma's Growth Enablers visit: https://www.halma.com/how-we-grow#page-intro-2

3. Fiberguide Industries Inc was acquired by Halma in 2008 for an initial consideration of $14.0 million (GBP7.9 million(5) ) and performance based variable consideration for growth in its first 2 years under Halma ownership of $4.3m (GBP2.8m(6) ). A gain will be recognised on disposal. In calendar year 2007, it reported revenue of $10.7 million (GBP6.0 million(5) ). In the financial year ended 31 March 2020 Fiberguide reported gross revenue of $23.6 million (GBP18.6 million(7) ).

   4.         At an exchange rate of US$1.35: GBP1. 
   5.         At an exchange rate of US$1.77: GBP1. 
   6.         At an exchange rate of US$1.56: GBP1. 
   7.         At an exchange rate of US$1.27: GBP1.

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December 18, 2020 02:00 ET (07:00 GMT)

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