21st Jun 2019 07:53
(Alliance News) - FTSE 100-listed safety and testing firm Halma PLC agreed on Friday to buy fire & evacuation systems supplier Ampac Group for AUD135 million, equivalent to GBP74 million.
The deal - expected to close before the end of August - will see Halma expand its business in Australia and New Zealand.
For the year ended June 2018, Ampac generated AUD7.5 million in operating profit from AUD57 million revenue.
For comparison, Halma generated GBP217.8 million operating profit from GBP1.21 billion revenue for the year ended March 2019. Pretax profit stood at GBP171.9 million.
"This is an exciting acquisition that extends our geographic footprint and strengthens the intellectual property of our fire detection businesses," Halma Chief Executive Officer Andrew Williams said.
"Ampac brings a strong brand, robust technology and well-established routes to market, and has been a partner for our business for several decades," Williams added. "Its highly complementary technologies will strengthen our value proposition, and it is well positioned to benefit from Halma's Growth Enablers."
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