Halma PLC on Friday said it had acquired heavy industries-focused firm E2S Group Ltd for £230 million in cash.
Amersham, England-based safety products manufacturer Halma is funding the purchase from existing facilities on a cash-and debt-free basis, it said.
London-based E2S supplies the manufacturing sector with notification, initiation and detection devices, generally used in hazardous, complex industrial processes. It also operates in the US and France, supplying varied end markets such as oil, gas and renewable energy.
Halma will position E2S within its Safety division, and sees its latest buy supporting growth in the fire detection and alarm system business. It forecast E2S revenue for 2025 of £44 million.
Mars Ronchetti, Halma’s chief executive, was optimistic about the potential of E2S to upscale:
‘The company brings new capabilities in growing, highly regulated industrial safety markets which are critical in protecting human life, and solutions and technologies which are complementary to our existing strengths in fire safety and gas detection,’ Ronchetti noted.
‘Joining the Halma group gives E2S access to global resources and expertise that will help accelerate the next phase of our growth. We are looking forward to benefiting from being part of a larger organisation as we continue to expand our product range,’ added E2S CEO Brett Isard.
Halma shares rose 1.4% to 3,668.56 pence on Friday morning in London.
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