Halma plc (‘Halma’ or the ‘Group’)
Acquisition
Halma, the global group of life-saving technology companies, today announces that it has acquired G.F.E. – Global Fire Equipment, S.A. (“GFE”) for its Safety Sector fire detection company, Ampac Pty Ltd (Ampac).
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.
The consideration for GFE is €42.5m (approximately £36m), on a cash- and debt-free basis, which will be paid in cash and funded from Halma’s existing facilities. GFE’s unaudited revenue for the 12 months to 31 March 2024 was €16.2m (approximately £13.7m), with an adjusted EBIT margin above Halma’s target range of 19-23%.
Marc Ronchetti, Group Chief Executive of Halma, said:
“GFE’s technologies are complementary to Ampac’s fire safety systems portfolio and will further expand the geographical markets it serves. We are excited by the opportunities we continue to see for purpose-aligned acquisitions to join Halma. It is also great to see our existing companies adding new capabilities and distribution reach through bolt-on acquisitions to accelerate their long-term growth. We are delighted to welcome GFE to our portfolio of market-leading fire detection companies.”
Tony Messercola, Managing Director, Ampac, said:
“We are pleased to add GFE to our portfolio of fire detection and evacuation systems. GFE has a strong brand reputation, backed by proven technology and outstanding customer service. This acquisition aligns with our strategy of expanding our presence internationally and providing the most effective fire detection and evacuation solutions in the industry.”