Northumberland-based fire systems manufacturer Advanced Electronics has been sold to Halma Plc.
Halma, based in Amersham, Buckinghamshire, has acquired Advanced Electornics for an initial £14.1m with with potential deferred consideration of up to £10.1m based upon earnings growth to March 2015.
Halma is a safety, health and sensor technology specialist and has been described as a “perfect partner” by Advanced managing director Ray Hope.
15 year old Advanced trades in over 60 countries and posted sales worth in excess of £14m in 2012.
Mr Hope says life under Halma ownership will build on Advanced Electronics’ existing R&D focused culture.
“We have worked with Halma companies for many years, its approach is enlightened and we will continue to operate with the same management team and from our existing locations, to drive our development plan forward,” he said.
Advanced will function as a distinct business unit under Halma’s Infrastructure Safety division. Advanced has considerable expertise in the area having supplied systems for well-known UK locations including The Shard, Westfield Shopping Centre and the Millennium Stadium.
The deal between Advanced and Halma was managed by Connection Capital.