Halma PLC (LSE:HLMA), the safety equipment firm, has acquired electrical testing company MK Test for over £40 million, it revealed on Wednesday.
MK Test manufactures and develops electrical testing technology to monitor the integrity of high-voltage systems such as those used in aerospace, rail and EV industries.
A £44 million cash offer was made by Halma on a debt-free basis and is believed to be funded through the FTSE 100 firm’s existing facilities.
MK Test, which brought in around £12.4 million in revenues in its 2024 financial year, is expected to be integrated into Halma’s safety division but will continue to operate as a standalone company, with its current management team retained.
“MK Test further enhances our capabilities in electrical safety and brings new opportunities for growth, driven by increasing safety regulation and the need to protect high-value assets,” said Halma boss Marc Ronchetti.
“Its technology plays an important role in automated electrical testing and in ensuring the integrity of electrical systems.
“We are delighted to welcome MK Test and to support its development as it continues to scale its business globally.”
In March, Halma revealed it was continuing to invest in future growth opportunities, with £299 million spent on eight acquisitions in the group’s last financial year.