Halma PLC (LSE:HLMA) said it has acquired FirePro, a maker of aerosol-based fire suppression systems, for €150mln (£132mln).
FirePro’s systems protect people, critical infrastructure and equipment from fire using a non-pressurised condensed aerosol technology which does not contain ozone-depleting substances or fluorinated greenhouse gases and extinguishes fire without causing damage to the environment, the FTSE 100 health-and-safety technology group said in a statement.
Andrew Williams, group chief executive of Halma, described the acquisition as a “valuable addition” to the company’s portfolio of fire detection and suppression solutions and highlighted the “strong opportunities for growth in its existing market niches”.
FirePro's unaudited revenue for the 12 months to 31 December 2022 was €23.3mln (£21mln), with return on sales more than double Halma's target range of 18-22%.