18th Jan 2019 07:36
LONDON (Alliance News) - Halma PLC said Friday it has acquired US-based emergency communication systems manufacturer Business Marketers Group Inc, which trades as Rath Communications, for USD42.4 million in cash.
UK-listed fire and smoke detectors manufacturer Halma said Rath Communications will become part of the company's infrastructure safety sector.
The deal was completed on Thursday and is anticipated to be immediately earnings enhancing to Halma.
"Rath extends Halma's safety communications capabilities and adds a new market niche with its strong position in the Area of Refuge communications market in the US, where growth is being supported by tightening regulatory standards," Halma's Chief Executive Andrew Williams said.
The cash consideration for Rath was funded from Halma's existing loan facilities.
Rath, which is based in the Wisconsin, recorded USD15.9 million in revenue in 2018. Halma recorded revenue of GBP585.5 million in the six months to September 30, 2018, up 16% year-on-year.
Related Shares:
Halma