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Acquisition of Sensorex by Halma plc

 

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:  Sensorex

Based in Garden Grove California Sensorex manufactures electrochemical sensors for water analysis applications. Its wide range of sensors and associated accessories are incorporated by OEMs manufacturing single and multi-parameter probes and instruments for monitoring water quality. The company's customers supply the growing environmental, drinking water, wastewater, life sciences and pharmaceutical markets.

 

Transaction Details:

Sensorex was identified as a strategic fit for Halma’s water division and aligned with Halma’s mission to “grow a safer, cleaner and healthier future for everyone, everyday.”  The business was not for-sale, private shareholders were approached, and direct negotiations resulted in a closed deal without an auction.  The cash consideration is $37.5 million (£23.4 million) and is adjustable Dollar for Dollar based on the level of net tangible assets at closing.

 

Broker/Dealer:  OEM Capital

Completion:  April 2012