TIDMHLMA
RNS Number : 9423B
Halma PLC
06 October 2022
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 WEETECH
Holding GmbH (WEETECH).
Founded in 1973 and headquartered in Wertheim, Germany, WEETECH
designs and manufactures safety-critical electrical testing
technology, to test the integrity of both high and low voltage
electrical systems. Their modular products are used in a range of
mechanical and electrical engineering industries, including
aerospace, avionics, rail and by Tier 1 automotive
manufacturers.
The consideration for WEETECH is EUR57.5m (approximately
GBP50m), on a cash- and debt-free basis, and will be paid in cash
and funded from Halma's existing facilities. WEETECH's unaudited
revenue for the 12 months to 31 March 2022 was EUR20.8m
(approximately GBP18m), with Return on Sales modestly above the
upper end of Halma's target range of 18-22%. WEETECH will be led by
its current management team and operate as a standalone company
within Halma's Safety sector.
Andrew Williams, Group Chief Executive of Halma, commented:
"We are delighted to welcome WEETECH to Halma and look forward
to supporting their future development through our Growth Enablers.
WEETECH brings new opportunities for growth in electrical safety,
driven by increasing safety needs and greater regulation. Their
technology will play an important supporting role in addressing key
issues such as growing urbanisation, the challenge of energy
transition and the adoption of more efficient modes of transport,
such as mass transit systems and electric vehicles."
Bernd Hartlein , Co-Chief Executive Officer of WEETECH said:
"Transporting people and goods causes one-fifth of global carbon
emissions. As consumers seek to reduce their carbon footprint, they
are embracing electric mobility. This transition means that cars,
planes, buses, trains and other electrical equipment will use more
high voltage electricity. By joining Halma, WEETECH can protect
even more workers in dangerous testing environments around the
world. Together, we're committed to solving the big problems of our
time, reducing the impacts of climate change and ensuring people's
safety."
For further information, please contact:
Halma plc
Andrew Williams, Group Chief Executive +44 (0)1494 721111
Marc Ronchetti, Group Chief Executive Designate and 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
Andrew Jaques / Rachel Farrington +44 (0)20 3128 8572
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 enhancing worker safety.
-- Environment: improving food and water quality, and monitoring air pollution.
-- 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
Further information on WEETECH
Further information on WEETECH can be found at
https://www.weetech.de/en/ .
Notes:
1. Euro values are translated at an exchange rate of GBP1:EUR1.14.
2. Since 2016, WEETECH had been owned by funds advised by PINOVA Capital.
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END
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October 06, 2022 02:00 ET (06:00 GMT)
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