Halma buys Thermocable for £22m

Safety technology company Halma said it had bought Thermocable for its safety sector fire detection unit, Apollo Fire Detectors, for £22m on a cash and debt-free basis.

Thermocable is based in Bradford, UK, and makes linear heat detectors, temperature-sensitive cables which are installed in areas at risk of overheating and fire and which trigger an alert when they detect a change of temperature.

Thermocable's unaudited revenue for the 12 months to 31 March 2022 was £6.3m, with return on sales “substantially” above the upper end of Halma's target range of 18-22%, Halma said on Wednesday.

Reporting by Frank Prenesti for Sharecast.com