Sensorex sold to Halma PLC for $38M

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Sensorex has been sold to Halma PLC for $38 million

Kerlin served as the investment banker to Sensorex in its sale to strategic acquirer Halma, PLC, a London based public conglomerate. Sensorex, located in Garden Grove, CA manufactures electrochemical sensors for water analysis applications. Sensorex represented a unique opportunity for Halma to broaden its water sensor technology and expand its U.S. footprint, and this acquisition was an important strategic addition to Halma’s Health and Technology business.

Kerlin was involved in all aspects of this transaction including developing strategic alternatives, valuation and international negotiations. One of the unique aspects of this transaction was that the seller requested that there be no continuing operational representations and warranties that would survive the closing. Kerlin was able to negotiate a premium priced deal with minimal representations and warranties and the final transaction had no escrow. This was acceptable to the buyer who was able to do a substantial amount of due diligence prior to closing to validate its view of the company.