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Published on: October 7, 2019

Acquisition marks further step up value chain

Water and built environment construction services group nmcn has acquired process solutions provider Lintott Control Systems (LCS) for up to £3.8m in what appears to be an attractive earn-out structure for nmcn. LCS’s technological and manufacturing expertise, in our view, takes nmcn further up the value chain with its main clients and reinforces its existing supply chains. We are not changing our estimates at this point but believe the deal could materially benefit our estimates for FY 2020E and FY 2021E. 

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