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Health, safety and environmental equipment designer Halma has agreed to buy Ampac, a fire and evacuation systems supplier in Australia and New Zealand.
The deal will see the FTSE 100 UK business pay A$135m (approximately £74m) on a cash and debt-free basis, with Ampac to be integrated into Halma's wider Infrastructure Safety division.
In the year to 30 June 2018 Ampac generated revenue and earnings before interest and tax of A$57m (£31m) and A$13.7m (£7.5m) respectively.
'This is an exciting acquisition that extends our geographic footprint and strengthens the intellectual property of our fire detection businesses', said Andrew Williams, group chief executive at Halma.
'Ampac has been a partner for our business for several decades. Its highly complementary technologies will strengthen our value proposition, and it is well positioned to benefit from Halma's growth enablers.'