Halma PLC
1 November 2000
HALMA ACQUIRES LEADING FIRE DETECTION BUSINESS
Halma p.l.c., the leading safety and environmental technology group, today
announces the acquisition of FFE Holdings Limited ('FFE'), one of the UK's
principal manufacturers of open area fire detection devices, for a
consideration of £7.5 million in cash.
Halma is a clear market leader in Europe for commercial quality fire detectors
through its Apollo subsidiary, and the acquisition of FFE will give the Group
a stronger position in the industrial sector. FFE manufactures specialist
detectors to protect buildings such as warehouses, open plan offices,
auditoria, leisure facilities and industrial premises. Apollo and FFE have
already established a relationship in the form of a technical and commercial
agreement, which has been in place since May 1999.
FFE will be integrated into Halma's Fire and Gas Detection operations, the
largest of the Group's business groupings. The company will continue to trade
as Fire Fighting Enterprises Limited, a name which has become widely
recognised and respected amongst architects, surveyors and other specifiers of
industrial fire protection systems.
FFE is based in Stevenage, Hertfordshire. In the year to 30 April 2000, the
company reported profit before interest and taxation of £983,000 on turnover
of £4.4 million. The £7.5 million consideration, payable on completion,
includes tangible assets of £1.7 million including at least £1 million in
cash.
The two majority shareholders of FFE, Alan Adams and Richard Brown, will
remain with the company post acquisition in the roles of Managing Director and
Commercial Director respectively.
Stephen O'Shea, Halma's Chief Executive, commented: 'This move supports
Halma's strategy of acquiring businesses that extend our existing activities,
add value and produce exceptional operating ratios. FFE brings to us
important product and technical skills in a specialist segment of the market.
With Halma's marketing power and global scale behind it, FFE has the potential
for attractive growth both nationally and internationally, and will
immediately deliver enhanced earnings.
For further information, please contact:
Stephen O'Shea
Chief Executive, Halma p.l.c. +44 (0)1494 721111
Rachel Hirst/Andrew Jaques
Hogarth Partnership (P.R.) +44 (0)207 357 9477
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