Halma plc (LON:HLMA), the leading safety, health and environmental technology group, today announced that it has agreed to acquire the Ampac Group, a leading fire and evacuation systems supplier in the Australian and New Zealand markets (see note 1).
Ampac will become part of the Group’s Infrastructure Safety sector. The cash consideration for Ampac of A$135 million (£74 million2), on a cash and debt free basis, will be funded from Halma’s existing facilities. Completion is subject to certain closing conditions and is expected to occur by no later than mid August 2019. In the twelve months ended June 2018, Ampac’s revenue and EBIT were A$57 million (£31 million) and A$13.7m (£7.5m), respectively. Ampac is headquartered in Perth with offices in Australia, New Zealand and the UK. Ampac’s management team will remain with the business.
Andrew Williams, Group Chief Executive at Halma, commented:
“This is an exciting acquisition that extends our geographic footprint and strengthens the intellectual property of our fire detection businesses. Ampac brings a strong brand, robust technology and well-established routes to market, and has been a partner for our business for several decades. Its highly complementary technologies will strengthen our value proposition, and it is well positioned to benefit from Halma’s Growth Enablers.
“This is a further example of our strategy to acquire regional partners to accelerate growth in our core Fire Detection markets, following our successful acquisition of Limotec in Belgium in 2018, and Advanced Electronics in the UK in 2014. We look forward to Ampac joining Halma and to working with its management team.”
1. The Ampac group of companies, headquartered in Australia, is a manufacturer of fire detection systems, including fire detection panels, sounders and beacons, and voice evacuation panels. They sell complete fire and evacuation systems under the Ampac brand, principally into Australia, New Zealand and UK.
2. Australian Dollar (AUD) values are translated at a rate of A$1.83: £1
3. For more information on Halma’s Growth Enablers visit: https://www.halma.com/how-we-grow#page-intro-2
