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Halma PLC on Thursday announced the acquisition of Global Fire Equipment SA for its safety sector fire detection company, Ampac Pty Ltd. The Amersham, England safety equipment maker said the €42.5 million cash deal will be funded from existing facilities. GFE’s unaudited revenue for the 12 months to March 31 was €16.2 million, with an adjusted earnings before interest and tax margin above Halma’s target range of 19% to 23%. Headquartered in Faro, Portugal, GFE designs and manufactures fire detection and alarm systems. Its product portfolio includes control panel equipment, fire detectors, sounders and emergency lighting for commercial customers. Its technologies are complementary to Ampac’s and those of our existing portfolio of market-leading fire detection companies. The acquisition extends Ampac’s presence in Europe in the complete fire systems market. Halma Chief Executive Marc Ronchetti said: ‘GFE’s technologies are complementary to Ampac’s fire safety systems portfolio and will further expand the geographical markets it serves.’ Shares in Halma rose 0.9% to 2,703.65 pence in London on Thursday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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