The law firm DLA Piper advised Halma plc (Halma), listed on London’s FTSE 100 index and one of the UK’s largest companies, on its acquisition of a 100% stake in Sewertronics sp. z o.o. (Sewertronics). The initial cash consideration is EUR41 million (GBP36 million) and may be increased by additional EUR18 million (GBP16 million) upon fulfilment of certain conditions. Completion of the acquisition is subject to certain closing conditions and is expected to occur by the end of May 2023.
Sewertronics headquartered in Białobrzegi, Poland (south of Warsaw) and working with sales and service partners worldwide, carries out repairs and rehabilitations of wastewater pipelines, using a technique that does not require excavation work, by inserting a liner into the pipe, which is then cured using an innovative and patented ultraviolet LED technology.
Halma is a UK-based global group of life-saving technology companies, employing more than 7,500 people in more than 20 countries. The group is highly regarded and has maintained a leadership position in the engineering sector for the past four years.
The acquisition of Sewertronics is part of Halma Group’s growth strategy of acquiring companies committed to a safer, cleaner, and healthier future. Over the past 10 years, Halma has invested more than GBP1 billion to this end.
The transaction was led by partners Marta FrÄ…ckowiak and Piotr Miller, with support from MichaĹ‚ SowiĹ„ski and Filip WilczyĹ„ski from the Corporate and M&A practice of DLA Piper’s Warsaw office.
On behalf of DLA Piper, we thank the law firms: GĂłmez-Acebo & Pombo and WardyĹ„ski & Partners for their fruitful cooperation and the smooth finalisation of the project – especially considering the high complexity of the transaction, as well as the fact that it combined two jurisdictions (Spanish and Polish) and was Halma Group’s first investment in Poland.
