Halma Acquires US-based Maxtec For $20 Mln - Quick Facts

Halma plc (HLMA.L), a safety, health and environmental technology group, announced Friday that it has acquired Utah, US-based Maxtec, LLC.

The cash consideration for Maxtec is $20 million or about 15.3 million pounds on a cash and debt free basis. The consideration will be funded from Halma's existing facilities.

Maxtec is engaged in the manufacture and distribution of oxygen analysis and delivery products for use in medical and non-medical applications. Maxtec's revenue and Adjusted EBIT for the twelve months to the end of March 2019 were $20.4 million and $1.8 million, respectively.

Maxtec will be managed as part of Halma's Perma Pure business, whose medical dehydration products are also used in acute care units. It will become part of Halma's Medical sector.

Maxtec's key management team will remain with the business and it will continue to operate in its current facility.

Andrew Williams, Group Chief Executive at Halma, said, "It brings technology and a market presence that will accelerate Perma Pure's growth in medical moisture management products and adds a new niche in oxygen analysis and delivery products, where growth is being driven by ageing populations and the increasing prevalence of heart and respiratory conditions."

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