Open an account Help & support Register Account summary Log out
Skip Header
Home Stock market news

Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Renold snaps up Australian chain maker Davidson for £3.1m

Fri 01 Sep 2023 08:21

(Sharecast News) - Renold, the AIM-listed supplier of industrial chains, has announced it is spending AU$6m (£3.1m) to buy Melbourne-based high-quality conveyor chain (CVC) maker Davidson Chain. The acquisition will build on Renold's existing market position within the Australian CVC market, and provides opportunities for manufacturing synergies between the two companies.

"The Davidson acquisition demonstrates further strategic momentum, supplementing organic growth through high quality bolt-on acquisitions which can expand our geographic presence, grow our product offering and strengthen our market position in key end markets," said Renold's chief executive Robert Purcell.

Davidson, which was acquired on a cash free, debt free basis and funded from existing borrowing facilities, is thought to immediately benefit Renold's earnings per share and lift operating margins.

The valuation represents 5.9x Davidson's EBITDA, though this will reduce to 5x because of expected synergies.

The stock was up 4.7% at 30.41p by 0839 in London.

Share this article

Related Sharecast Articles

Mon 29 Jun 2026 14:00
Smiths News inks distribution contract with Associated Newspapers
(Sharecast News) - Print media distributor Smiths News has secured a new long‑term distribution contract with Associated Newspapers, publisher of the Daily Mail, The Mail on Sunday and i.
Thu 04 Jun 2026 08:30
S4 Capital flags tough trading amid volatile macro conditions
(Sharecast News) - Digital advertising and marketing firm S4 Capital said on Thursday that trading through 2025 had continued to reflect volatile macro conditions, with tariff negotiations and geopolitical risks keeping clients cautious.
Mon 27 Apr 2026 09:05
PensionBee reaches £8bn AUA milestone
(Sharecast News) - Online retirement savings provider PensionBee Group announced on Monday that assets under administration had hit approximately £8bn.
Mon 20 Apr 2026 08:17
Auction Technology Q2 performance remains 'positive'
(Sharecast News) - Auction and list price marketplaces operator Auction Technology Group said on Monday that second‑quarter trading remained positive, building on momentum seen in the first quarter, with the group now expecting to report first‑half revenues of roughly $125m.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Awards

Award 1
Award 2
Award 3

Policies and important information

Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Statutory and Regulatory disclosures | Whistleblowing programme

Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document or Product Summary document which contains important information about the fund.

This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.

© FIL Limited 2026