26th Mar 2025 14:23
(Alliance News) - LifeSafe Holdings PLC on Wednesday said it has signed an exclusive global distribution deal with Hurst Jaws of Life Inc and Vetter GmbH, both of which are subsidiaries of Idex Fire & Safety.
Shares in LifeSafe were up 20% at 8.67 pence in London on Wednesday afternoon. The stock remains down 25% over the past year, however.
The Essex, England-based fire safety technology developer said the agreement is for an initial 18-month term, and relates to the exclusive supply of LifeSafe's industrial fire extinguishing and prevention products into the professional fire sector.
Though there is no guaranteed minimum income under the deal, the contract is estimated to generate between GBP6 million and GBP8 million in revenue for LifeSafe over the next three years.
LifeSafe also anticipates a purchase order worth around EUR400,000 from Idex Fire & Safety "in the near future".
"I am proud to announce this global distribution agreement with IDEX Fire & Safety. It is testament to the strategy, professional team and highly effective products we have developed at LifeSafe over recent years which address the global structural challenges and opportunities within the fire safety market driven by legislative change, new technology and environmental concerns," said LifeSafe Chair Dominic Berger.
We are delighted Idex Fire & Safety has thoroughly tested our product and fluid ranges and have chosen to sell the LifeSafe branded products alongside their impressive brand portfolio of products.
"This potentially transformational partnership will open the world of fire safety to both LifeSafe's current and exciting new products launching in 2025, combining the vast experience, expertise and distribution network Idex Fire & Safety bring across their marketplace of over 120 countries."
By Emily Parsons, Alliance News reporter
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