LONDON (dpa-AFX) - Halma plc (HLMA), a life-saving technology company, on Wednesday said it acquired Thermocable (Flexible Elements) Ltd, for its safety sector fire detection company, Apollo Fire Detectors Limited (Apollo). The initial consideration for Thermocable is 22 million pounds on a cash- and debt-free basis, to be funded from Halma's existing facilities.
Based in Bradford, UK, Thermocable is a leading developer and manufacturer of Linear Heat Detectors (LHDs). LHDs are temperature sensitive cables, installed in areas at risk of overheating and fire, which trigger an alert when they detect a change of temperature.
Thermocable's specialist detection technologies further expand the range of devices Apollo offers in the commercial and industrial fire detection markets.
Thermocable's unaudited revenue for the 12 months to 31 March 2022 was 6.3 million pounds, with Return on Sales substantially above the upper end of Halma's target range of 18-22%.
Shares of Halma closed Tuesday's trading at 2,148 pence, down 6 pence or 0.28 percent from the previous close.
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