Halma Acquires Wagtech's Water Technology Division

Safety, health and sensor technology group Halma has acquired of the Water Technology Division of Wagtech International, on 1 March 2011, for a cash consideration of GBP3m. The acquisition, which is earnings enhancing, has been funded from Halma's existing cash and debt facilities. The acquired business will be merged with Palintest, based in Gateshead, UK, which is one of Halma's Water analysis businesses within our Health and Analysis sector.

Andrew Williams, Halma's chief executive, said: 'Wagtech Water Technology Division's range of water and environmental testing products fits closely with Palintest's existing activities and increases its presence within developing regions such as Africa and Asia where Wagtech has strong brand recognition.

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