Acquisition

RNS Number : 3458I

Halma PLC

14 April 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 Deep Trekker Inc. (Deep Trekker).

Headquartered in Ontario, Canada, Deep Trekker is a market-leading manufacturer of remotely operated underwater robots used for inspection, surveying, analysis and maintenance. It serves markets including aquaculture, renewable energy and ocean science and research.

The cash consideration for Deep Trekker is Can$60m (approximately £36m) on a cash and debt free basis, which will be funded from Halma's existing facilities. Deep Trekker's unaudited revenue for the 12 months to 31 December 2021 was Can$20.0m (approximately £12m), with Return on Sales above Halma's target range of 18-22%. Deep Trekker will be part of Halma's Environmental & Analysis sector.

Andrew Williams, Group Chief Executive of Halma, commented:

"Deep Trekker is an exciting addition to Halma, which is highly aligned with our purpose, both in terms of helping to ensure a cleaner environment, and in improving the safety of underwater inspections. It offers new opportunities for growth in a number of markets, driven by increasing health, safety and environmental regulation, and global efforts to address climate change, waste and pollution."

For further information, please contact:

Halma plc

Andrew Williams, Group Chief Executive  [phone]

Marc Ronchetti, Chief Financial Officer

Charles King, Head of Investor Relations  [phone]

Clayton Hirst, Director of Corporate Affairs                                           [phone] 

MHP Communications

Andrew Jaques / Rachel Farrington                                                         [phone]

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 protecting worker safety.

· Environment: addressing the impacts of climate change, pollution and waste, protecting life-critical resources and supporting scientific research.

· 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.

In January 2022, Halma was named one of Britain's Most Admired Companies by Management Today.

Further information on Deep Trekker

Founded in 2010, Deep Trekker is headquartered in Kitchener, Ontario, Canada. It has 75 employees. It designs and manufactures remotely-operated underwater vehicles, CCTV pipe crawlers, utility crawlers and submersible cameras, for use in a wide range of applications and markets. The Americas accounts for approximately two-thirds of Deep Trekker's revenue, with Europe approximately 15%, with the remainder split between Asia and the rest of the world. Further information on Deep Trekker can be found at www.deeptrekker.com .

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