Halma acquires Rath Communications for $42.4m
StockMarketWire.com - Safety technology group Halma said Friday it had acquired Business Marketers Group, trading as Rath Communications, for $42.4m.
Rath Communications was a provider of emergency communication systems for areas of refuge in the US and would become part of Halma's infrastructure safety division.
The acquisition was completed on 17 January 2019 and was expected to be 'immediately earnings enhancing,' the company said.
Rath's unaudited revenue for the financial year ended December 2018 was $15.9m. 'Rath extends Halma's safety communications capabilities and adds a new market niche with its strong position in the Area of Refuge communications market in the USA, where growth is being supported by tightening regulatory standards,' said Andrew Williams, Halma's Chief Executive. 'Rath is also well positioned to benefit from Halma's strategic Growth Enablers, bringing the potential for collaboration with other Halma businesses in elevator safety and healthcare to drive expansion into adjacent markets focused on the care and safety of the elderly and disabled people.'
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