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Halma PLC on Friday said it agreed to buy wastewater pipelines repairs firm Sewertronics Sp for an initial €41 million. The Buckinghamshire-based safety equipment manufacturer said the Rzeszow, Poland-based Sewertronics’ technology repairs wastewater pipelines without the need to dig a trench. Instead, it inserts a lining into the pipe, which is then cured using its patented ultraviolet LED technology. Halma said this UV technology has less impact on the environment and is more efficient than other curing methods that use hot water or steam. The FTSE-250 firm said the deal includes an additional consideration of up to €18 million. Completion of the acquisition is expected to occur by the end of May 2023. Halma Chief Executive Marc Ronchetti says: ‘Sewertronics is highly aligned to our purpose, helping to protect the environment by reducing blockages and leakage in wastewater pipes. We expect Sewertronics’ growth to be driven by the increasing need to repair ageing wastewater infrastructure and reduce wastewater leaks, and by investment in innovative technologies which minimise the disruption to surrounding infrastructure and reduce the resources required to carry out repairs.’ In 2022, Sewertronics reported revenue of €8.1 million. Halma said Sewertronics will be a standalone firm within Halma’s Environmental & Analysis sector. Shares were down 0.1% at 2,385.00 pence each on Friday morning in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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