Halma plc acquires WEETECH Holding GmbH

Halma plc (HLMA.L) has acquired 100% of WEETECH Holding GmbH with effect from 4 October 2022. The takeover took place in connection with the age succession of the company. As a transitional measure, PINOVA Capital GmbH held a majority stake in order to secure the future of WEETECH Holding GmbH. All shares have now been sold to Halma plc (Halma).

WEETECH develops and manufactures safety-critical electrical test equipment to test the integrity of high and low voltage electrical systems.

Andrew Williams, Group Chief Executive of Halma, said: "WEETECH offers new growth opportunities in the electrical safety sector, driven by increasing safety requirements and tighter regulations. WEETECH's technology will play an important supporting role in addressing key issues such as increasing urbanisation, the challenge of the energy transition and the adoption of more efficient modes of transport such as mass transit systems and electric vehicles."

"Electric mobility is an important building block for a sustainable and resource-efficient mobility system. The demand for it has multiplied and new markets and technologies are emerging along with it. WEETECH develops products that enable the safe use of high-voltage electricity in all means of transport," said Bernd Haertlein, Co-CEO of WEETECH.

Through the acquisition, WEETECH also benefits from a comprehensive company network of all Halma companies.