Halma plc acquisition of Cosasco Systems
Client and Buyer: Halma PLC
Halma is a UK based global group of life-saving technology companies. Halma is a member of the FTSE-100 with shares traded on the London Stock Exchange (HLMA.L). Halma is organized into three sectors: Safety, Medical and Environmental & Analysis.
Seller: Cosasco Systems
Cosasco Systems is a world leader in the design, manufacture and sales of pipeline corrosion monitoring products and systems into diverse industries including Oil, Gas, Petrochemical, Pharmaceutical, Chemical and Utilities. RCS is located in Santa Fe Springs, California, USA and has offices in Canada, UK, UAE, Singapore, China, Australia and Houston, Texas, USA.
The 10th strategic acquisition Mike Simon advised Halma on, Cosasco was not for sale when first approached. A strategic approach led to direct negotiations between principals, avoiding the disruption of an auction. Halma paid a cash consideration to RCS’s private shareholders of $108 million (£64.7 million) for the share capital plus $8.0 million (£4.8 million) for cash retained in the business.
Broker/Dealer: Aaron Capital
Completion: June 2014