Halma Group acquires FirePro in major £132 million deal

FirePro’s unaudited revenue for the 12 months to 31 December 2022 was €23.3m (circa £21 million), with the return on sales more than double Halma’s target range of 18%-22%.

The consideration will be paid in cash and funded from Halma’s existing facilities. Going forward, FirePro will operate as a standalone company within Halma’s safety sector and continue to be led by its current management team.

The acquisition is part of Halma’s growth strategy to acquire businesses aligned with its purpose of growing a safer, cleaner and healthier future for everyone, every day. In point of fact, Halma has now completed a total of seven acquisitions during this financial year.

The company’s systems protect people, critical infrastructure and equipment from fire using a non-pressurised condensed aerosol technology, which does not contain ozone-depleting substances or fluorinated greenhouse gases and extinguishes fire without causing damage to the environment.

FirePro’s products, for which the business holds several patents, have been installed in over 110 countries, across a broad range of industries and applications and enjoy listings and approvals with several certified bodies around the world.

Collaboration opportunities

“Fire safety technology plays a key role in protecting people and their environment,” explained Avgoustinos Avgousti, managing director of FirePro. “By joining the Halma Group, we gain access to new capabilities and collaboration opportunities with a global group of businesses which is aligned with FirePro’s purpose of protecting human life.”

FirePro broadens the range of fire safety technologies within Halma’s Safety sector. Its products offer several benefits for customers, including a sustainable alternative to pressurised gas fire suppression systems. FirePro’s FPC solid compound uses naturally occurring potassium salts that contain no ozone-depleting substances or fluorinated greenhouse gases. The technology can be installed on a much faster basis than traditional gas systems due to the fact that no pipework or pressurised testing is required.

There’s also a commitment to certifications and standards. FirePro holds 12 registrations from ten globally recognised certification bodies and has seen its products installed in over 110 countries, with distribution partners in 94 countries.

Specifically, the FirePro solution (referred to as Powdered Aerosol E) is listed as an acceptable agent in the Significant New Alternative Policy. FirePro’s solution has been assessed by GEN (the Global Eco-labelling Network) and carries the Green Label Certificate.

Further, FirePro’s systems protect assets and people in a wide variety of applications, with examples including emergency power and electrical equipment found in industrial buildings, hospitals, stadiums, commercial vehicles and, more recently, Lithium-ion battery power storage (itself a critical part of the energy transition).

Valuable addition

“The acquisition of FirePro represents a valuable addition to our portfolio of fire detection and suppression solutions,” explained Andrew Williams, Group CEO of Halma. “Its technologies provide a sustainable alternative to established pressurised gas fire suppression solutions.”

Williams added: “There are strong opportunities for growth in its existing market niches, largely driven by higher regulatory standards, while the adoption of new technologies for renewable energy are creating new opportunities for growth. We’re delighted to welcome FirePro to Halma and look forward to working with the team to expand FirePro’s global impact.”

*Further information is available online at www.halma.com