A Lancashire alarm manufacturing business has been sold to its management team for £65m by a global group of life-saving technology companies.
Halma has disposed of Rossendale-headquartered Texecom which has now been backed by private equity firm LDC.
Texecom’s management team will continue to lead the business, which will operate out of its current locations.
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Texecom was first acquired by Halma in November 2005 for £26m. At the time its revenue stood at £19.2m but for the financial year to March 31, 2021 it reported audited revenue of £33.3m.
Andrew Williams, group chief executive at Halma, said: "I am pleased that we have continued to find exciting new companies to join Halma.
"Each acquisition is strongly aligned with our purpose and financial model and will bring complementary capabilities including new technologies and broader market reach.
"We look forward to working with the leadership groups of Ramtech, Dancutter and Sensitron as they seek to grow their businesses over the long term.
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"It is also pleasing to have found a new home for Texecom, so that it can continue to invest and grow under the existing management team, who have served Halma well over many years.
"We wish them and the whole Texecom workforce every success for the future under their new ownership."
Jim Ludwig, Texecom managing director, added: "Our customers’ electronic security needs are becoming more complex than ever.
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"By prioritising innovation, both organically and through acquisitions, we will continue to provide market-leading products and services to our clients so that they feel safe and can get on with their day-to-day lives.
"We’re thrilled to have an investor that is as excited about our business, and the customers we serve, as we are. Our new partnership with LDC gives us the support and financial firepower to build on our legacy and achieve our ambitions.
"With the team’s help, we will continue to grow market share in the 海角视频 and in key overseas markets."
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The investment was led by LDC’s head of Yorkshire Dan Smith and investment directors Will Scales and Leigh Daveran.
As part of the transaction, Mr Smith and Mr Scales join Texecom’s board as non-executive directors.
Mr Smith said: "Texecom’s international footing and its reputation for quality, innovation and technical capability means the business is perfectly positioned to take advantage of the evolving global security market.
"We’re excited to support Jim and his ambitious management team to realise Texecom’s future potential."