LONDON (ShareCast) - (Sharecast News) - LifeSafe announced on Wednesday that it has signed an exclusive global distribution agreement with Hurst Jaws of Life and Vetter, both subsidiaries of IDEX Fire & Safety, providing the company with access to the worldwide professional fire safety market.
The AIM-traded firm said the agreement, which runs for an initial 18-month term, would cover the supply of LifeSafe's wholesale and industrial fire extinguishing and prevention products into the professional fire sector.

While the agreement did not include guaranteed revenue, LifeSafe estimated that it could generate between £6m and £8m in revenue over the next three years.

The company anticipated an initial purchase order worth about €0.4m from IDEX Fire & Safety in the near term.

It said the deal followed its February announcement that it was in advanced negotiations on a major distribution agreement.

The company said it believed the partnership would significantly accelerate entry into new geographic markets and industry sectors.

It described IDEX Fire & Safety as a global group of specialised manufacturers focused on fire suppression, rescue, and municipal safety.

The company's portfolio includes internationally-recognised brands such as Akron Brass, Hale, Godiva, Hurst Jaws of Life, and Vetter, offering a range of equipment from fire pumps to rescue tools.

"I am proud to announce this global distribution agreement with IDEX Fire & Safety - it is testament to the strategy, professional team and highly effective products we have developed at LifeSafe over recent years which address the global structural challenges and opportunities within the fire safety market driven by legislative change, new technology and environmental concerns," said chairman Dominic Berger.

"We are delighted that IDEX Fire & Safety has thoroughly tested our product and fluid ranges and have chosen to sell the LifeSafe branded products alongside their impressive brand portfolio of products.

"This potentially transformational partnership will open the world of fire safety to both LifeSafe's current and exciting new products launching in 2025, combining the vast experience, expertise and distribution network IDEX Fire & Safety bring across their marketplace of over 120 countries."

At 0957 GMT, shares in LifeSafe Holdings were up 19.59% at 8.67p.

Reporting by Josh White for Sharecast.com.

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