13 December 2011 – acquisition

The group has purchased the assets of Loadcell Services, an oilfield instrumentation supplier based in Singapore.  The business operates throughout South East Asia plying customers in the oil and gas sector.  The acquisition, which is costing £1m, is an excellent fit with the group’s existing business, building on the acquisition of Tasman in Australia.  Other potential acquisitions are being considered and we maintain our recommendation of BUY.