TIDMHLMA
RNS Number : 4875Y
Halma PLC
05 May 2023
Halma plc ('Halma' or the 'Group')
Acquisition
Halma, the global group of life-saving technology companies,
today announces that it has agreed to acquire Sewertronics Sp. Z
o.o. (Sewertronics).
Sewertronics' technology repairs and rehabilitates wastewater
pipelines without the need to dig a trench, by inserting a lining
into the pipe, which is then cured using its innovative and
patented ultraviolet (UV) LED technology. This UV technology has
less impact on the environment, is more efficient, less disruptive
and safer than other curing methods that use hot water or steam.
Sewertronics is based in Rzeszów , Poland, and it has sales and
service partners in most major regions.
The initial cash consideration for Sewertronics is EUR41m
(approximately GBP36m) on a cash- and debt-free basis, to be funded
from Halma's existing facilities. Additional considerations of up
to EUR18m (approximately GBP16m) may be payable in cash, based on
the fulfilment of certain conditions. Completion of the acquisition
is subject to certain closing conditions and is expected to occur
by the end of May 2023.
Sewertronics' unaudited revenue for the 12 months to 31 December
2022 was EUR8.1m (approximately GBP7.1m). Sewertronics will be a
standalone company within Halma's Environmental & Analysis
sector, and will collaborate with Minicam and Dancutter, existing
Halma portfolio companies, who operate in the same end-user
markets.
Marc Ronchetti, Group Chief Executive of Halma, commented:
"Sewertronics is highly aligned to our purpose, helping to
protect the environment by reducing blockages and leakage in
wastewater pipes. We expect Sewertronics' 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."
César Gómez, Chief Executive Officer and Founder of Sewertronics
, commented:
"O vercrowded cities, heavy downpours and climate change are all
putting increasing pressure on wastewater infrastructure. Our
technology helps to prevent wastewater pollution, while maximising
efficiency and safety when repairing pipes and avoiding the need
for disruptive and expensive excavation. Sewertronics is highly
aligned with Halma's purpose of growing a safer, cleaner, healthier
future for everyone, every day. By joining Halma, we will benefit
from its global network, resources and expertise, and from
collaboration with other Halma companies, particularly those
focused on solutions for the wastewater sector."
For further information, please contact:
Halma plc
Marc Ronchetti, Group Chief Executive +44 (0)1494 721111
Steve Gunning, Chief Financial Officer
Charles King, Head of Investor Relations +44 (0) 7776 685948
Clayton Hirst, Director of Corporate Affairs +44 (0) 7384 796 013
MHP Communications
Rachel Farrington / Ollie Hoare +44 (0)20 3128 8613 / 8276
A copy of this announcement, together with other information
about Halma, is available at www.halma.com.
About Halma
Halma is a global group of life-saving technology companies,
focused on growing a safer, cleaner, healthier future for everyone,
every day. Its purpose defines the three broad markets it operates
in:
-- Safety - Protecting people's safety and the environment as
populations grow, and enhancing worker safety.
-- Environment - Addressing the impacts of climate change,
pollution and waste, protecting life-critical resources and
supporting scientific research.
-- Health - Meeting the increasing demand for better healthcare
as chronic illness rises, driven by growing and ageing populations
and lifestyle changes.
It employs over 7,500 people in more than 20 countries, with
major operations in the UK, Mainland Europe, the USA and Asia
Pacific. Halma is listed on the London Stock Exchange (LON: HLMA)
and is a constituent of the FTSE 100 index.
Halma is named as one of Britain's Most Admired Companies and
has retained its No. 1 ranking in the Engineering sector over the
past four years.
For more information: www.halma.com
Further information on Sewertronics is available at
www.sewertronics.com .
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END
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