Updates

Pressure Technologies - Eps enhancing acquisition of Roota

April 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares spiked after Pressure acquired Roota Engineering, a machining company supplying bespoke engineered products for the oil and gas industry, for up to Â£13.5m (Â£9m upfront with Â£4.5m based on future performance). To pay for the deal and for working capital, Pressure has placed 2.9m shares at 575p to raise Â£16.7m.Founded in 1973, Roota specialises in components for high added value ball valves and well-head cleaning tools for exotic alloys and as such it is a terrific fit with Pressureâ€™s Al-Met subsidiary, which serves the same market albeit it generally makes smaller parts. Speaking to John Hayward, he says the second generation family owned business is well known to Pressure, being two miles from its head office in S ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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