Halma expands fire safety sector with Global Fire Equipment acquisition

Halma, a technology company, has announced the acquisition of Global Fire Equipment, S.A. (GFE) for its safety sector company, Ampac.

As reported by Halma, the cash consideration for GFE is €42.5 million (£36 million) on a cash- and debt-free basis.

The acquisition will be funded from Halma’s existing facilities.

GFE, based in Faro, Portugal, designs and manufactures fire detection and alarm systems.

The company’s products are installed in over 90 countries.

GFE’s unaudited revenue for the 12 months ending 31 March 2024 was €16.2 million (£13.7 million).

Global impact of fire safety

Ageing and crowded infrastructure contribute to fire-related deaths, with around 200,000 people dying globally each year.

Many of these deaths are preventable with fire protection systems.

Governments worldwide are introducing regulations focusing on prevention, early detection, and effective response to reduce fire-related fatalities.

GFE’s fire detection and alarm systems are tailored to meet diverse fire protection needs for commercial and industrial applications.

The systems are fully certified and known for their reliability and effectiveness.

Statements from Halma and Ampac executives

Tony Messercola, Managing Director of Ampac, expressed satisfaction with the acquisition, stating: “We are pleased to add GFE to our portfolio of fire detection and evacuation systems.

“GFE has a strong brand reputation, backed by proven technology and outstanding customer service.

“This acquisition aligns with our strategy of expanding our presence internationally and providing the most effective fire detection and evacuation solutions in the industry.”

Marc Ronchetti, Group Chief Executive of Halma, commented: “GFE’s technologies are complementary to Ampac’s fire safety systems portfolio and will further expand the geographical markets it serves.

We are excited by the opportunities we continue to see for purpose-aligned acquisitions to join Halma.

It is also great to see our existing companies adding new capabilities and distribution reach through bolt-on acquisitions to accelerate their long-term growth.

We are delighted to welcome GFE to our portfolio of market-leading fire detection companies.”

Financial details of the acquisition

The acquisition of GFE was completed for €42.5 million (£36 million) on a cash- and debt-free basis.

Halma will fund the purchase from its existing facilities.

For the 12 months ending 31 March 2024, GFE reported unaudited revenue of €16.2 million (£13.7 million).

GFE’s acquisition is expected to strengthen Ampac’s position in the fire safety market and expand its product offerings.

The integration of GFE’s technologies with Ampac’s existing systems is anticipated to provide enhanced fire detection and evacuation solutions globally.