Hayward Tyler Group (AIM: HAYT) – material acquisition moves this business up a leg
The specialist engineering group has announced the conditional acquisition of the trade and assets of the Peter Brotherhood business from Dresser-Rand Company Ltd, a Siemens-owned business. This is a material acquisition which rapidly increases the reach of the AIM quoted business and is immediately earnings enhancing.
Peter Brotherhood is a UK engineering business based in Peterborough which is currently focused on energy efficient solutions for land and marine based applications including steam turbines, reciprocating gas compressors and combined heat and power units for the power generation, oil and gas and marine markets. It was acquired by Dresser-Rand Inc in 2008 (a company that was subsequently acquired by Siemens) and is now a non-core disposal. Peter Brotherhood is the UK’s only producer of steam turbines with an output up to 40MW which has applications in waste heat recovery, the FPSO and FLNG markets and the British Navy…