ASL Holdings sold to Halma plc

Listed technology group Halma has acquired ASL Holdings in a deal worth up to £10m. Initium advised the shareholders of ASL during the transaction.

ASL is a data communications specialist in Machine to Machine (M2M) solutions within the Utility Sector. The business is communications solutions provider to many vertical markets, majoring on the utility industry in the UK and overseas. Based in Northampton, ASL designs and manufactures M2M products which are incorporated into ‘smart’ meters for remote data monitoring and a range of other uses in the utility, transport and retail sectors.

Headquartered in Amersham, and listed on the LSE, Halma is a global group of technology companies, focusing on Process Safety, Infrastructure Safety, Environmental & Analysis, and Medical.

As reported at the time of the transaction, ASL became part of Wales-based HWM-Water Ltd, which manufactures dataloggers and leak detection products for the water industry, within Halma’s environmental and analysis sector.