Halma plc (HALMY,HLMA.L), a life-saving technology company, on Friday announced it has acquired E2S Group Ltd for a cash consideration of 230 million pounds on a cash- and debt-free basis, funded through existing facilities.
The acquisition strengthens the company's expansion into fire detection and alarm systems, with E2S joining the group's Safety Sector.
E2S is forecast to generate approximately 44 million pounds in revenue for the 12 months to December 31.
E2S was founded in 1992 headquartered in London with operations in the US and France. It designs and manufactures high-performance notification, initiation and detection devices used in hazardous environments across heavy industry and complex manufacturing.
Its products support safety compliance in regulated sectors such as oil and gas, renewable energy and manufacturing.
On Thursday, Halma closed trading 1.52% higher at 3,618 pence on the London Stock Exchange.
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