Halma plc (LON:HLMA), the global group of life-saving technology companies focused on growing a safer, cleaner and healthier future for everyone every day, has announced that it has acquired Deep Trekker Inc.
Headquartered in Ontario, Canada, Deep Trekker is a market-leading manufacturer of remotely operated underwater robots used for inspection, surveying, analysis and maintenance. It serves markets including aquaculture, renewable energy and ocean science and research.
The cash consideration for Deep Trekker is Can$60m (approximately £36m) on a cash and debt free basis, which will be funded from Halma’s existing facilities. Deep Trekker’s unaudited revenue for the 12 months to 31 December 2021 was Can$20.0m (approximately £12m), with Return on Sales above Halma’s target range of 18-22%. Deep Trekker will be part of Halma’s Environmental & Analysis sector.
Andrew Williams, Group Chief Executive of Halma, commented:
“Deep Trekker is an exciting addition to Halma, which is highly aligned with our purpose, both in terms of helping to ensure a cleaner environment, and in improving the safety of underwater inspections. It offers new opportunities for growth in a number of markets, driven by increasing health, safety and environmental regulation, and global efforts to address climate change, waste and pollution.”
