23 June 2017 – acquisition
The group has announced the acquisition of Hi-Power Limited and the business and certain assets of Hi-Power Hydraulics Ltd for initial cash consideration of £1.9m with further sums due up to a maximum of £3.5m depending on future profits at Hi-Power. The purchase will expand the group’s operations in Ireland and also strengthen the scope of the group’s product offering and its technical expertise. This is another useful acquisition for the group and we maintain our recommendation of BUY.