LONDON (dpa-AFX) - Halma (HLMA.L), on Thursday, said it acquired G.F.E. - Global Fire Equipment, S.A. for its Safety Sector fire detection company, Ampac Pty Ltd.
The consideration for GFE is €42.5 million on a cash- and debt-free basis, which will be paid in cash and funded from Halma's existing facilities. GFE's unaudited revenue for the 12 months to 31 March 2024 was €16.2 million, with an adjusted EBIT margin above Halma's target range of 19%-23%.
GFE specializes in the design and production of fire detection and alarm systems. Its product line encompasses control panel equipment, fire detectors, sounders, and emergency lighting tailored for commercial clientele. The technologies offered by GFE are complementary to Ampac's existing array of leading fire detection companies, thereby enhancing Ampac's footprint in the European market for comprehensive fire systems.
Marc Ronchetti, Group Chief Executive of Halma, said, 'GFE's technologies are complementary to Ampac's fire safety systems portfolio and will further expand the geographical markets it serves. We are excited by the opportunities we continue to see for purpose-aligned acquisitions to join Halma. It is also great to see our existing companies adding new capabilities and distribution reach through bolt-on acquisitions to accelerate their long-term growth. We are delighted to welcome GFE to our portfolio of market-leading fire detection companies.'
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