Halma plc ('Halma' or the
'Group')
Acquisition
Halma, the global group of
life-saving technology companies, today announces that it has
acquired MK Test Systems Limited (MK Test).
Founded in 1990 and headquartered in
Wellington, Somerset, UK, MK Test designs and manufactures
safety-critical electrical testing technology. Its products are
used globally to test the integrity of high voltage electrical
systems in aerospace, rail and commercial EV industries.
The cash consideration for MK Test is
£44m, on a cash- and debt-free basis, to be funded from Halma's
existing facilities. MK Test's unaudited revenue for the 12 months
to March 2024 was £12.4m, with Return on Sales substantially above
the upper end of Halma's target range of 18-22%. MK Test will be a
standalone company within Halma's Safety sector, led by its current
management team.
Marc Ronchetti, Group Chief Executive
of Halma, commented:
"MK Test further enhances our
capabilities in electrical safety and brings new opportunities for
growth, driven by increasing safety regulation and the need to
protect high value assets. Its technology plays an important role
in automated electrical testing and in ensuring the integrity of
electrical systems. We are delighted to welcome MK Test and to
support its development as it continues to scale its business
globally."
Jason Evans, Managing Director of MK
Test, said:
"Passenger and operator safety is a
top priority for our customers. They must ensure that platforms and
machines with increasingly complex electrical systems are
manufactured and assembled correctly, are operating within
specification, and are being properly maintained. Joining Halma
means we can grow our business in key markets while helping more
businesses meet increasing safety regulations and demands for test
traceability. MK Test Systems is aligned with Halma's purpose of
growing a safer, cleaner, healthier future for everyone, every
day."
For further information, please
contact:
Halma plc
Marc Ronchetti, Group Chief
Executive
+44 (0)1494 721111
Steve Gunning, Group Chief Financial
Officer
Melanie Horton, Deputy Head of
Investor Relations
+44 (0) 7554 013
396
Clayton Hirst, Director of Corporate
Affairs
+44 (0) 7384 796
013
MHP
Oliver Hughes / Rachel Farrington /
Ollie Hoare
+44 (0)20 3128
8100
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 8,000 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 has been named as one
of Britain's Most Admired Companies for the past six
years.
For more
information www.halma.com