6 July 2015 – acquisition and trading update
The group has announced the purchase of Nelson Hydraulics and Nelson Fluid Power Limited for total consideration of £5.8m which is being funded from the group’s own cash resources. The acquisition, which has bases in both Northern Ireland and the Republic of Ireland has a broad customer base and it will operate as an independent sister company within the group. It is expected that there will be synergies within the group and with current group trading being in line with expectations the shares remain a BUY.