LONDON (dpa-AFX) - Halma plc (HLMA.L), the global group of life-saving technology companies, on Friday announced that it has agreed to acquire Rzeszów, Poland-based Sewertronics Sp. Z o.o.
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.
The initial cash consideration for Sewertronics is €41 million on a cash- and debt-free basis, to be funded from Halma's existing facilities. Additional considerations of up to €18 million may be payable in cash, based on the fulfilment of certain conditions.
The deal, which is subject to certain closing conditions, is expected to be completed by the end of May 2023.
Sewertronics' unaudited revenue for the 12 months to 31 December 2022 was €8.1 million. Further, the company stated that 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.
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