Halma acquires linear heat detector designer Thermocable for £22m
>
FTSE 100 technology group Halma acquires Yorkshire-based linear heat detector designer Thermocable for £22m
- Linear heat detectors are cables designed to detect fire or overheating
- Halma told investors that Thermocable would be part of its Apollo group of companies
- The latest acquisition comes four months after Halma bought Weetech Holding
Technology developer Halma has acquired a manufacturer of water leak and heat detection equipment, marking the FTSE 100 group’s seventh acquisition in the past two years.
Halma told investors on Wednesday it had bought Thermocable, a manufacturer of linear heat detectors (LHDs) based in Bradford, West Yorkshire, in a £22 million cash and debt-free deal.
LHDs are cables designed to detect fire or overheating in a wide variety of buildings and applications, including power plants, thatched houses, conveyor belts and tunnels.
Safety: LHDs are cables designed to detect fire or overheating in a wide variety of buildings and applications, including power stations, thatched houses and tunnels
When they recognize a fire or a significant rise in temperature, signals are sent through the cables to alarms and other fire protection equipment that indicate where the overheating is occurring.
Halma told investors that Thermocable would belong to its Apollo group of companies, which also specialize in producing fire detection services.
CEO Andrew Williams said, “Thermocable’s specialty technologies will further enhance Apollo’s existing strengths in fire detection and alarm systems for industrial and commercial customers.
“They will enable Apollo to meet a wider range of customer needs in niche applications across a variety of industries, such as urban infrastructure and transportation, logistics, natural resources, and emerging applications in renewable energy generation.”
The company’s latest purchase comes about four months after acquiring German company Weetech Holding, a provider of electrical test technology to industries ranging from aerospace to railroad and engine manufacturers.
Before that, Halma bought Maryland-based IZI Medical Products, a designer of medical consumables such as biopsy needles and thermoplastic masks, for about £138 million.
Other acquisitions completed since early 2021 include underwater robot maker Deep Trekker, healthcare consulting firm Infinite Leap, and PeriGen, a software company focused on improving childbirth safety.
The Amersham-based group’s long history of acquisition-led growth has helped push annual sales to £1.5 billion and profits for the past 19 consecutive years.
It was initially founded as a tea plantation during the Victorian era before branching out into rubber production, until the Sri Lankan government nationalized the country’s rubber plantations about a decade after the end of World War II.
From the early 1970s, under the leadership of David Barber, Halma focused on winning electromechanical, electrical and electronic engineering firms.
Halma shares were 1.1 percent higher at £21.72 early Wednesday afternoon, just ahead of other FTSE 100 companies Howden Joinery and British Land.