Halma buys FirePro for €150m

Halma said it had bought FirePro, a manufacturer of aerosol-based fire suppression systems, for €150m (£132m) on a cash- and debt-free basis.

FirePro's unaudited revenue for the 12 months to December 31 was €23.3m, with return on sales more than double Halma's target range of 18-22%. The Cyprus-based company, will operate as a standalone company within Halma's Safety sector and continue to be led by its current management team.

Reporting by Frank Prenesti for Sharecast.com