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Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>Carr&rsquo;s Group has acquired US-based NuVision Engineering for a total cash consideration of up to US$20m (&pound;15.4m). The transaction is immediately earnings enhancing. Importantly, it gives German-based W&auml;lischmiller, which is part of the Carr&rsquo;s Group Engineering division, greatly enhanced access to the US nuclear market. We raise our FY18 and FY19 estimates and revise our indicative valuation from 158p/share to 163p/share.</p>

Carr&rsquo;s Group has acquired US-based NuVision Engineering for a total cash consideration of up to US$20m (&pound;15.4m). The transaction is immediately earnings enhancing. Importantly, it gives German-based W&auml;lischmiller, which is part of the Carr&rsquo;s Group Engineering division, greatly enhanced access to the US nuclear market. We raise our FY18 and FY19 estimates and revise our indicative valuation from 158p/share to 163p/share.

Expansion of engineering activity in the US

Carr's Group PLC

Expansion of engineering activity in the US