Somerset manufacturer acquired by global giant in £44m deal
A Somerset firm which designs and manufactures electrical testing equipment has been acquired for £44m.
MK Test Systems Limited has been acquired by global business Halma..
Founded in 1990 and headquartered in Wellington, MK Test designs and manufactures safety-critical electrical testing technology.
Its products are used globally to test the integrity of high voltage electrical systems in aerospace, rail and commercial EV industries.
The cash consideration for MK Test is £44m, on a cash- and debt-free basis, to be funded from Halma’s existing funds.
MK Test’s unaudited revenue for the 12 months to March 2024 was £12.4m, with return on sales substantially above the upper end of Halma’s target range of 18-22 per cent.
MK Test will be a standalone company within Halma’s Safety sector, led by its current management team.
Marc Ronchetti, group chief executive of Halma, said: “MK Test further enhances our capabilities in electrical safety and brings new opportunities for growth, driven by increasing safety regulation and the need to protect high value assets. Its technology plays an important role in automated electrical testing and in ensuring the integrity of electrical systems.
“We are delighted to welcome MK Test and to support its development as it continues to scale its business globally.”
Jason Evans, managing director of MK Test, said: “Passenger and operator safety is a top priority for our customers.
“They must ensure that platforms and machines with increasingly complex electrical systems are manufactured and assembled correctly, are operating within specification, and are being properly maintained. Joining Halma means we can grow our business in key markets while helping more businesses meet increasing safety regulations and demands for test traceability.
“MK Test Systems is aligned with Halma’s purpose of growing a safer, cleaner, healthier future for everyone, every day.”
Halma is a global group of life-saving technology companies.
It employs over 8,000 people in more than 20 countries, with major operations in the UK, mainland Europe, the USA and Asia Pacific.
