Halma plc (LON:HLMA), the global group of life-saving technology companies, has announced that it has acquired Lazer Safe Pty. Ltd.
Headquartered in Perth, Australia, Lazer Safe designs and manufactures safety solutions for industrial press brake applications. Its laser technology is designed to protect workers when operating machinery used to fabricate sheet metal. Its modular products are used in a wide range of industrial end markets and are ‘SIL 3’ certified by the International Electrotechnical Commission.
The cash consideration for Lazer Safe is AUD45m (approximately £23m) on a cash- and debt-free basis, to be funded from Halma’s existing facilities. Lazer Safe’s unaudited revenue for the 12 months to 31 March 2023 was AUD21.8m (approximately £11.2m), with Return on Sales at the upper end of Halma’s target range of 18-22%. Lazer Safe will be a standalone company within Halma’s Safety sector.
Marc Ronchetti, Group Chief Executive, commented:
“Lazer Safe further strengthens Halma’s position in industrial safety where long-term growth is driven by increasing regulation and the need for greater efficiency and employee safety. Lazer Safe is highly aligned to our purpose of protecting people and their environment to grow a safer, cleaner and healthier future for everyone, every day. We are delighted to welcome a company that will serve as an important addition to Halma’s portfolio of machine and industrial safety technology.”
Ian Costley, Co-Founder and Chief Executive Officer of Lazer Safe, commented:
“Growth across industries like automotive, mass transportation, construction and energy generation is creating an increased demand for press brake machines driven by the rising consumption of sheet metal. By joining Halma, Lazer Safe can continue to grow internationally, helping more manufacturers protect their workforce, adapt to increasing safety regulations and enhance productivity.”
