Halma PLC Disposal (0768J)
December 18 2020 - 1:00AM
UK Regulatory
TIDMHLMA
RNS Number : 0768J
Halma PLC
18 December 2020
Halma plc ('Halma')
Sale of Fiberguide Industries
Halma, the global group of life-saving technology companies
focused on growing a safer, cleaner and healthier future, today
announces that it has sold Fiberguide Industries, Inc.
("Fiberguide") to Molex for a total cash consideration of $38
million (GBP28.1 million(4) ) on a cash and debt free basis.
Fiberguide, which was acquired by Halma in 2008, is a
manufacturer of fibre optic technology headquartered in Idaho, USA
. For additional information, see note 3.
Molex, a manufacturer of electronic, electrical and fibre optic
connectivity systems, is closely aligned to Fiberguide's core
business. Molex's business model of acquiring and growing
businesses over the long term, alongside its existing fibre optic
manufacturing infrastructure, will provide Fiberguide with a strong
platform to enable its future growth.
The divestment is in line with Halma's strategy of actively
managing its portfolio of global businesses to ensure it is aligned
with its purpose and maintains strong growth and returns over the
long term.
Andrew Williams, Group Chief Executive at Halma, commented:
" We are pleased to have found a new home for Fiberguide. Molex,
as a manufacturer of fibre optic connectivity systems, has the
infrastructure in place to support Fiberguide's future development.
We are confident that this will help Fiberguide better serve its
customers, employees and suppliers while enabling Halma to continue
to invest in high growth businesses that are closely aligned with
our purpose. We'd like to thank the Fiberguide leadership team and
all of its employees for their contribution to the Group and wish
them well for the future."
For further information, please
contact:
Halma plc
Andrew Williams, Group Chief
Executive +44 (0)1494 721111
Marc Ronchetti, Chief Financial
Officer
Investor Relations +44 (0)7469 851962
MHP Communications
Andrew Jaques / Giles Robinson +44 (0)20 3128 8788
A copy of this announcement, together with other information
about Halma, may be viewed on its website: www.halma.com
Notes:
1. Halma is a global group of life-saving technology companies,
focused on growing a safer, cleaner and healthier future
for everyone, every day. Our innovative products and solutions
address many of the key issues facing the world today. The
Group comprises four business sectors:
Technologies that protect people and
* Process Safety assets at work.
Technologies that save lives, protect
* Infrastructure Safety infrastructure and enable safe movement
in public spaces.
Technologies to improve environmental
* Environmental & Analysis protection and the security of life-critical
resources.
Technologies which enhance the quality
* Medical of life for patients and improve the
quality of care delivered by healthcare
providers.
The key characteristics of Halma's businesses are specialist
technology and application knowledge for niches within markets
offering strong long-term growth potential. Many Group businesses
are market leaders in their specialist fields.
2. For more information on Halma's Growth Enablers visit: https://www.halma.com/how-we-grow#page-intro-2
3. Fiberguide Industries Inc was acquired by Halma in 2008 for
an initial consideration of $14.0 million (GBP7.9 million(5) ) and
performance based variable consideration for growth in its first 2
years under Halma ownership of $4.3m (GBP2.8m(6) ). A gain will be
recognised on disposal. In calendar year 2007, it reported revenue
of $10.7 million (GBP6.0 million(5) ). In the financial year ended
31 March 2020 Fiberguide reported gross revenue of $23.6 million
(GBP18.6 million(7) ).
4. At an exchange rate of US$1.35: GBP1.
5. At an exchange rate of US$1.77: GBP1.
6. At an exchange rate of US$1.56: GBP1.
7. At an exchange rate of US$1.27: GBP1.
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