# Halma enhances gas detection capabilities with Sensit Technologies acquisition

- Link: https://www.directorstalkinterviews.com/halma-enhances-gas-detection-capabilities-with-sensit-technologies-acquisition/412804862
- Published: 2020-02-05T07:40:22+00:00
- Author: Amilia Stone

**[Halma PLC](https://www.directorstalkinterviews.com/ftse-company/halma-plc/hlma.l)**(
LON:HLMA), the leading safety, health and environmental technology group, today 
announced that it has acquired Sensit Technologies, LLC, a gas leak detection company
based in Indiana, USA.

Sensit manufactures equipment and designs technologies that enable natural gas utilities
to detect leaks in their pipes, protecting workers in the natural gas distribution
industry, ensuring compliance with regulatory standards, and reducing climate change
effects by minimising emissions of methane.  Their technology is also used in emergency
response situations by firefighters facing explosion risk due to leaking natural
gas.

Sensit will become part of Halma’s Process Safety sector and will continue to be
led by its existing management team, who were significant shareholders, from its
current location.

The cash consideration for Sensit is US$51.5 million (£39.6 million^(1)), on a cash
and debt free basis, which will be funded from Halma’s existing facilities. When
adjusted for tax benefits with a net present value of approximately US$5 million(
£3.8 million), the net initial consideration is approximately US$46.5 million (£
35.8 million).

Sensit’s unaudited revenue and Adjusted EBIT for the twelve months ended December
2019 were US$25.9 million (£19.9 million) and US$4.4 million (£3.4 million), respectively.

> **Andrew Williams, Group Chief Executive at Halma, commented:**
> “Sensit enhances Halma’s gas detection capabilities, with its strong market position
> and technological capabilities in the natural gas leak detection market. Its growth
> is supported by tightening safety and environmental regulatory standards, which
> protect communities and workers from hazards, and minimise climate change impacts.
> We look forward to working with its management team and continuing its strong 
> track record of growth supported by Halma’s strategic Growth Enablers.”

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