Acquisition
Summary by AI BETAClose X
Halma plc ('Halma' or the 'Group')
Acquisition
Halma, the global group of life-saving technology companies focused on growing a safer, cleaner, healthier future for everyone, every day, today announces that it has acquired Brownline.
Founded in 1994 and headquartered in The Netherlands, Brownline is a provider of advanced gyroscopic locating systems which are used by Horizontal Directional Drilling (HDD) contractors in trenchless underground drilling. Brownline's principal markets are: energy, including traditional, renewable and distributed energy systems; fibre connectivity; and water. Its sales are principally to North America, continental Europe and the UK, and it has offices in the Netherlands, the US, Canada, the UK and Australia.
The cash consideration for Brownline is €150m (approximately £129m), on a cash- and debt-free basis, to be funded from Halma's existing facilities. Brownline's unaudited revenue for the 12 months to 31 March 2025 was €37m (approximately £32m). Brownline will be a standalone company within Halma's Environmental & Analysis Sector, led by its current management team.
Marc Ronchetti, Group Chief Executive of Halma, commented: "Brownline's technology is a game-changer for safely installing underground infrastructure. Its ability to deliver pinpoint accuracy without surface disruption is increasingly vital as cities continue to expand and electrification accelerates. Brownline is a strong strategic fit with Halma's purpose, supporting the global energy transition. We're proud to welcome the company to Halma and look forward to supporting its continued growth and success."
Bertjan Molenaar, Founder and CEO of Brownline said: "I would like to thank Mentha for their partnership over the last 7 years during which we made great progress in further professionalising the company and growing our business. Joining Halma marks an exciting new chapter for Brownline. We've built our reputation on precision, innovation, and reliability-values that align closely with Halma's purpose and long-term vision. Their decentralised model gives us the autonomy to continue doing what we do best, while benefiting from the strength of a global group committed to solving critical infrastructure challenges."
For further information, please contact:
Halma plc
Marc Ronchetti, Group Chief Executive +44 (0)1494 721111
Carole Cran, Group Chief Financial Officer
Melanie Horton, Co-Head of Investor Relations +44 (0) 7554 013 396
Charles King, Co-Head of Investor Relations +44 (0) 7776 685948
MHP
Oliver Hughes / Rachel Farrington / Ollie Hoare +44 (0)7817 458 804
A copy of this announcement, together with other information about Halma, is available at www.halma.com.
About Halma
Halma is a global group of life-saving technology companies, focused on growing a safer, cleaner, healthier future for everyone, every day. Its purpose defines the three broad markets it operates in:
· Safety - Protecting the safety of people and assets as populations grow and the demand on infrastructure increases.
· Environment - Addressing the impacts of climate change, pollution and waste, protecting life-critical resources and supporting scientific research.
· Health - Meeting the increasing demand for better healthcare as chronic illness rises, driven by growing and ageing populations and lifestyle changes.
It employs over 9,000 people in more than 20 countries, with major operations in the UK, Mainland Europe, the USA and Asia Pacific. Halma is listed on the London Stock Exchange (LON: HLMA) and is a constituent of the FTSE 100 index.
Halma has been named as one of Britain's Most Admired Companies for the past six years.
For more information www.halma.com
ENDS
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