Halma plc (LON:HLMA), the leading safety, health and environmental technology group, today announces that it has acquired Maxtec, LLC, which is based in Utah, USA.
Maxtec is a leader in the design, manufacture and distribution of oxygen analysis and delivery products for use in medical and non-medical applications. They specialise in innovative products for respiratory care, including in oxygen sensors and analysers for use in hospital acute care units [see notes 1 and 2]. Maxtec will be managed as part of Halma’s Perma Pure business, whose medical dehydration products are also used in acute care units, and will become part of Halma’s Medical sector. Key members of Maxtec’s leadership team will remain with the business and it will continue to operate in its current facility.
The cash consideration for Maxtec is US$20 million (£15.3 million3), on a cash and debt free basis, which will be funded from Halma’s existing facilities. Maxtec’s revenue and Adjusted EBIT for the twelve months to the end of March 2019 were US$20.4 million (£15.7 million) and US$1.8 million (£1.4 million), respectively.
Andrew Williams, Group Chief Executive at Halma, commented:
“Maxtec is highly aligned with our purpose, and further extends our presence in diagnostic products and acute healthcare. It brings technology and a market presence that will accelerate Perma Pure’s growth in medical moisture management products and adds a new niche in oxygen analysis and delivery products, where growth is being driven by ageing populations and the increasing prevalence of heart and respiratory conditions. I am delighted to welcome Maxtec to the Halma group of companies and look forward to supporting its future development.”