Precision measurement specialist acquired in £31m deal

Halma, a group of safety equipment companies which makes products for hazard detection and life protection, has completed two acquisitions for a maximum total consideration of about £46.5m.

The deals include Halma company, Alicat Scientific Inc, acquiring Bradford-based Alpha Instrumatics Group.

Alpha Instrumatics designs and makes devices for high-precision measurement of trace moisture found in gases.

Trace moisture analysis allows the safer operation of industrial equipment, more efficient transfer of hydrocarbons, and more accurate detection of pollutants.

Alpha Instrumatics’ devices are used in growth markets, including the industrial gas and aerospace markets, as well as industries aligned to the new energy transition.

This acquisition is designed to extend Alicat’s product offering in its existing and adjacent end markets.

The initial cash consideration for Alpha Instrumatics is £31m, which will be funded from Halma’s existing facilities.

Alpha Instrumatics’ consolidated unaudited revenue for the 12 months to 30 September 2023 was £7.8m.

Marc Ronchetti, group chief executive of Halma, said: “Our companies have access to Halma expertise and capital to support their growth locally and internationally. 

“These bolt-on acquisitions are strongly aligned with our purpose and financial model and will bring complementary capabilities, including new technologies and broader market reach. 

“We are excited by the opportunities we see for new standalone companies to join Halma and for our existing companies to add new capabilities through bolt-on acquisitions to grow their businesses over the long-term.”