Halma PLC (LSE:HLMA), the global group of life-saving technology companies, has acquired Lazer Safe Pty, the Perth-based producer of safety solutions for industrial press brake applications, for A$45 million, a company statement revealed.
Utilising advanced laser technology to protect workers operating machinery in the fabrication of sheet metal, Lazer Safe’s purchase will be funded from Halma’s existing facilities on a cash and debt-free basis.
Revenues of A$21.8 million were reported by Lazer Safe for the 12 months to March 2023, with an impressive return on sales at the upper end of Halma's target range of 18-22%.
Following the acquisition, Lazer Safe will operate as a standalone company within Halma's Safety setor.
With Lazer Safe's ‘SIL 3’ certified modular products, Halma aims to tap into a broader industrial market and provide innovative safety solutions to a range of end markets.
Marc Ronchetti, group chief executive of Halma, said: "Lazer Safe further strengthens Halma's position in industrial safety where long-term growth is driven by increasing regulation and the need for greater efficiency and employee safety.
“Lazer Safe is highly aligned to our purpose of protecting people and their environment to grow a safer, cleaner, and healthier future for everyone, every day.”
Ian Costley, co-founder and chief executive officer of Lazer Safe, added: “By joining Halma, Lazer Safe can continue to grow internationally, helping more manufacturers protect their workforce, adapt to increasing safety regulations, and enhance productivity."
Halma opened flat on Friday morning, having begun trading at 2,135p.