In a significant move to enhance its market position, Halma PLC has acquired MK Test Systems Ltd., a pioneer in electrical testing technology, for a hefty sum of £44 million ($55 million). This acquisition is part of Halma’s ongoing strategy to expand through mergers and acquisitions, underscoring its commitment to growing its safety technology portfolio.
Halma acquires MK Test for £44m: A Cash-and-Debt-Free Transaction
The deal, structured on a cash- and debt-free basis, was settled with the previous owners clearing all debts and retaining excess cash prior to finalization. Halma, a prominent figure in the FTSE 100 index on the London Stock Exchange, plans to finance this acquisition from its existing facilities, ensuring a smooth financial transition.
Strategic Growth through Acquisition
Founded in 1990 and based in Somerset, MK Test Systems has become a key player in the aerospace and rail industries, providing essential products for testing electrical system integrity. With an unaudited revenue of £12.4 million in the 12 months leading up to March, MK Test represents a valuable addition to Halma’s diverse business portfolio.
