It is meeting the growing need from utilities for monitoring sewage and waste water networks, as aging infrastructure and increasing amounts of waste result in customer service challenges and potential non-compliance with environmental regulations. "Mini-Cam is a great fit with the water technologies we have already within our Environmental & Analysis sector and provides new opportunities for commercial and technical collaboration. The acquisition, which is expected to be immediately earnings enhancing, was funded from Halma's existing cash and debt facilities.Īndrew Williams, Halma's Chief Executive, commented: The management team of Mini-Cam will continue to operate the business out of its current locations. Mini-Cam's consolidated audited accounts for the year ended 31 January 2017 show Adjusted EBIT of £5.2 million under Halma reporting (see note 4). Earn-out consideration, capped at £23.1 million, is payable in cash based on annualised profit growth up to the end of March 2020.
The initial cash consideration is £62.0 million on a cash- and debt-free basis.
#Halma water management uk software#
Mini-Cam's remotely-operated products and software enable utilities to identify leakages, blockages and potential ingress in waste water networks, thereby helping them to improve customer service levels and compliance with environmental regulations. Mini-Cam, headquartered in Lancashire UK, specialises in pipeline inspection solutions for waste water systems in the UK and internationally. Halma completed the acquisition of Mini-Cam Enterprises Limited ("Mini-Cam") on 31 October 2017 from Lloyds Development Capital ("LDC") and a group of private shareholders. Halma, the leading safety, health and environmental technology group, today announces an acquisition within the Group's Environmental & Analysis sector. ACQUISITION OF MINI-CAM ENTERPRISES LIMITED AND SUBSIDIARIES
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