Halma buys Italy's Safetec for $72.5m

(Sharecast News) - Safety equipment maker Halma said it had bought Italian firm Safetec for €72.5m (£63m), on a cash- and debt-free basis, to be funded from Halma's existing facilities. Founded in 2003 and headquartered near Milan, Italy, Safetec designs, engineers and delivers customised fire and gas safety solutions for large-scale, complex and high-risk industrial projects, Halma said on Friday.

Safetec's revenue for 2025 is forecast to be around €30m. It serves clients in the power generation, oil and gas, pharmaceutical and other sectors across markets are the Middle East, Europe and Africa.

Halma added Safetec would be a standalone company within its safety division, led by its current management team.

Reporting by Frank Prenesti for Sharecast.com