Acquisition

RNS Number : 5103V

Halma PLC

03 November 2010

 



Halma p.l.c. ('Halma') ACQUISITION OF ALICAT SCIENTIFIC Halma, the leading safety, health and sensor technology group, announces the acquisition of Alicat Scientific, Incorporated ('Alicat') from financial shareholders and members of current management for a cash consideration of $25.2 million (£15.7 million), paid at completion on 2 November 2010.  Alicat, a privately-owned business in Tucson, Arizona, USA designs and manufactures mass flow meters and controllers which are used in life science and industrial applications for high-precision measurement of fluid flows. Alicat will join Halma's Health and Analysis sector within the Fluid Technology group of businesses. Unaudited accounts for the financial year ended September 2010 show operating profit of $3.2 million (£2.0 million).  The cash consideration is adjustable $1 for $1 if the completion accounts demonstrate net tangible assets above or below $1.5 million (£0.9 million).  The acquisition, which is immediately earnings enhancing, has been funded from Halma's existing cash and debt facilities. Andrew Williams, Halma's Chief Executive, commented: "Alicat adds new technologies and end market applications to our Fluid Technology businesses which currently focus on fluid flow via precision miniature tubing assemblies, connectors and valves.  This acquisition provides new cross- selling opportunities and the Halma hubs in Asia will help Alicat accelerate their recent sales growth in that important region." For further information please contact:

Halma p.l.c. Andrew Williams, Chief Executive Kevin Thompson, Finance Director		[phone]
MHP Communications Rachel Hirst/Andrew Jaques		[phone]
Notes
1.	A copy of this announcement, together with other information about Halma, may be viewed on its website:  www.halma.com.
2.	This statement is not intended to constitute a profit forecast for the current financial period or for any future period.  In addition, this statement should not be taken to mean that the earnings per share of Halma will necessarily match or exceed the historic reported earnings per share of Halma.
3.	Exchange rate used:  $1.605/£1.

 

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