Halma plc (HLMA.L, HALMY), a life-saving technology company, on Friday said it has acquired Safetec S.r.l., an Italy-based provider of customised fire and gas safety solutions, for cash of 72.5 million euros or 63 million pounds on a cash- and debt-free basis.
The acquisition was funded from Halma's existing facilities, with Safetec set to operate as a standalone business within Halma's Safety Sector under its current management team.
Safetec, founded in 2003 and headquartered near Milan, designs and delivers safety systems for large-scale, high-risk industrial projects across power generation, oil and gas and pharmaceuticals, with key markets in the Middle East, Europe and Africa.
Safetec is forecast to generate revenue of about 30 million euros or 26 million pounds for the 12 months to December 31, 2025.
On Thursday, Halma closed trading 0.87% lesser at $3,628 on the London Stock Exchange.
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