Halma plc acquired NovaBone Products, LLC for $97 million.
January 26, 2020
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Halma plc (LSE:HLMA) acquired NovaBone Products, LLC for $97 million on January 24, 2020. The cash consideration of $97 million is paid on a cash and debt free basis. The acquisition is funded from Halma's existing facilities. In addition, the consideration, an earn-out is payable in cash, dependent on profit growth in each of the two financial years to March 2022, up to an aggregate maximum of $40 million, with a maximum of $25 million achievable in any single financial year. Upon completion, NovaBone Products will become part of Halma's medical sector. Manish Gupta, Rob Andrews and David Silver of Robert W. Baird & Co. Incorporated acted as financial advisor to NovaBone Products, LLC.
Halma plc (LSE:HLMA) completed the acquisition of NovaBone Products, LLC on January 24, 2020.
Halma plc specializes in design, manufacturing and marketing of security equipment. Net sales break down by family of products as follows:
- infrastructure surveillance sensors and industrial security equipment (42%): fire and smoke detectors, electronic elevator systems (door control systems, emergency communication equipment, display modules, etc.), automatic door sensors, single-use pressure relief valves, mechanical, electrical, and electromechanical interlocks, flammable and hazardous gas detection systems, etc.;
- healthcare equipment (29%): optical magnification and diagnostic equipment, fluid management systems (pumps, probes, valves, connectors, and tubes), etc. ;
- environmental analysis equipment (29%): photonic products, water storage, treatment, and analysis equipment, etc.
Net sales are distributed geographically as follows: the United Kingdom (15.1%), Europe (20.3%), the United States (42.2%), Asia/Pacific (15.2%), Africa/Near East/Middle East (3.4%) and other (3.8%).
HALMA PLC 
