Halma PLC has acquired Deep Trekker, an Ontario, Canada-based developer of submersible robots, for around $47 million on a cash and debt free basis. Deep Trekker will be managed as a standalone company and will join Halma’s Environmental and Analysis sector.
Deep Trekker’s line of underwater ROVs include the DTG3 ROV, which can reach a max depth of 200 m and has a battery life of up to eight hours, as well as two ROVs that can reach up to 305 m but have shorter battery lives. The Pivot ROV can run for up to three hours, while the Revolution ROV can run for up to six.
The company’s ROVs are used for underwater inspection and tasks in a variety of industries, including aquaculture, infrastructure, energy, search and recovery, commercial diving, defense and ocean science.
Deep Trekker brought in over $15 million in 2021, with a return on sales above Halma’s target range of 18%-22%. Around two-thirds of the company’s revenue comes from business in the Americas, while 15% comes from Europe.
“Deep Trekker is an exciting addition to Halma, which is highly aligned with our purpose, both in terms of helping to ensure a cleaner environment, and in improving the safety of underwater inspection,” Andrew Williams, group chief executive at Halma, said. “It offers new opportunities for growth in a number of markets, driven by increasing health, safety and environmental regulation, and global efforts to address climate change, waste and pollution.”
Halma is a global group of technology companies that includes Ocean Insight, a company that develops spectroscopy equipment and software, and Palintest, a manufacturer of water analysis technologies. It is based in the UK, but has major operations in mainland Europe as well as in the US and Asia.
Deep Trekker was founded in 2010, and has sold its devices in over 99 countries. It’s headquartered in Kitchener, Ontario, Canada and has an additional office in Latin America.