Halma PLC, a global group of life-saving technology companies, has announced the acquisition of MK Test Systems Limited (MK Test). The UK-based MK Test, founded in 1990, specializes in designing and manufacturing safety-critical electrical testing technology used in aerospace, rail, and commercial EV industries worldwide. The cash consideration for the acquisition is £44m, to be funded from Halma's existing facilities. MK Test's unaudited revenue for the 12 months to March 2024 was £12.4m, with Return on Sales substantially above the upper end of Halma's target range of 18-22%.
Following the acquisition, MK Test will operate as a standalone company within Halma's Safety sector, led by its current management team. The move is expected to enhance Halma's capabilities in electrical safety and provide new growth opportunities driven by increasing safety regulations and the need to protect high-value assets. Marc Ronchetti, Group Chief Executive of Halma, expressed excitement about the acquisition, stating that MK Test's technology plays a crucial role in automated electrical testing and ensuring the integrity of electrical systems.
Jason Evans, Managing Director of MK Test, highlighted the alignment of the acquisition with Halma's purpose of growing a safer, cleaner, healthier future for everyone, every day. He emphasized that joining Halma will enable MK Test to expand its business in key markets and help more businesses meet increasing safety regulations and demands for test traceability.
Halma, a constituent of the FTSE 100 index, operates in three broad markets: Safety, Environment, and Health. The company employs over 8,000 people in more than 20 countries, with major operations in the UK, Mainland Europe, the USA, and Asia Pacific. Halma has been recognized as one of Britain's Most Admired Companies for the past six years. For further information, interested parties can visit Halma's website.