Halma makes two acquisitions
Halma, the global group of life-saving technology companies, has completed two bolt-on acquisitions for an aggregate maximum total consideration of approximately £46.5m.
In the Environmental and Analysis sector, Halma company, Alicat Scientific, Inc, has acquired the Alpha Instrumatics Group.
Based in Bradford, Alpha Instrumatics designs and manufactures devices for high-precision measurement of trace moisture found in gases. Trace moisture analysis allows the safer operation of industrial equipment, more efficient transfer of hydrocarbons, and more accurate detection of pollutants. Alpha Instrumatics' devices are used in growth markets, including the industrial gas and aerospace markets, as well as industries aligned to the new energy transition. This acquisition extends Alicat's product offering in its existing and adjacent end markets.
Halma paid £31 million for Alpha Instrumatics, with additional earn-out considerations payable in cash, based on its performance over each of the two financial years to 31 March 2025, up to an aggregate maximum of £5.5m. Alpha Instrumatics' consolidated unaudited revenue for the 12 months to 30 September 2023 was £7.8 million.
Halma company IZI Medical Products LLC (IZI), has acquired AprioMed AB for £10 million. AprioMed designs, manufactures and distributes medical devices used for bone biopsies. This acquisition expands IZI's offerings for minimally invasive procedures, complementing its products used to diagnose and treat cancer.
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AprioMed's unaudited revenue for the 12 months to 31 March 2023 was SEK40.0 (approximately £3.0m).
Marc Ronchetti, Group Chief Executive of Halma, said: "Our companies have access to Halma expertise and capital to support their growth locally and internationally. These bolt-on acquisitions are strongly aligned with our purpose and financial model and will bring complementary capabilities to Alicat and IZI Medical, including new technologies and broader market reach. We are excited by the opportunities we see for new standalone companies to join Halma and for our existing companies to add new capabilities through bolt-on acquisitions to grow their businesses over the long term."