12th May 2023 08:45
(Alliance News) - Halma PLC on Friday said it acquired wastewater pipeline rehabilitation-focused Sewertonics Sp Zoo for an initial EUR41 million.
The Buckinghamshire-based safety equipment manufacturer said last week the deal would include an additional consideration of EUR18 million.
Sewertonics is a Rzeszow, Poland-based company which repairs wastewater pipelines using ultraviolet LED technology. Halma said this UV technology has less impact on the environment and is more efficient than other curing methods that use hot water or steam.
Sewertronics will be a standalone firm within Halma's Environmental & Analysis sector.
Commenting on the acquisition, Halma Chief Executive Marc Ronchetti said last week: "We expect Sewertronics's growth to be driven by the increasing need to repair ageing wastewater infrastructure and reduce wastewater leaks, and by investment in innovative technologies which minimise the disruption to surrounding infrastructure and reduce the resources required to carry out repairs."
In 2022, Sewertronics reported revenue of EUR8.1 million.
Halma shares were up 0.8% at 2,452.00 pence each in London on Friday morning.
By Sabrina Penty; Alliance News reporter
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