PRES has been a great performer since arriving on AIM.
Following National Grid's recent report it looks like there could be a big opportunity in biogas. New commentary on Investor's Champion, www.investorschampion.com.

Acquisition

RNS


RNS Number : 9795R

Pressure Technologies PLC

18 September 2014








18 September 2014



Pressure Technologies plc

("Pressure Technologies", the "Company" or the "Group")



Acquisition of the business and assets of Greenlane Biogas Holdings Limited



Pressure Technologies announces that, after completing extensive detailed due diligence, the Company has agreed terms to acquire the business and certain assets of New Zealand based Greenlane Biogas Holdings Limited and those of its various subsidiary companies ("Greenlane" or the "Acquisition"), a leading developer and global supplier of patented technology for upgrading raw biogas to high purity biomethane.



Highlights:



· Greenlane is a leading global provider of Biogas-To-Grid ("BTG") waterwash technology, which has designed and built over 80 biogas plants around the world;



· Greenlane has a global footprint with a strong presence in North & South America and Europe. These markets together with emerging markets in South East Asia and China provide significant growth opportunities;



· Greenlane's applications are used to capture biogases released from multiple waste sources and its technology can be applied to turn landfill gases into biomethane;



· The Board believes that the Acquisition is highly complementary to the Group's existing subsidiary Chesterfield Biogas Limited ("CBG"), which has been working with Greenlane since 2008 under an exclusive licence to sell Greenlane Technology in the UK;



· The Acquisition is expected to be earnings enhancing in the year ending 1 October 2016;



· The Board intends to form an enlarged Alternative Energy subsidiary, comprising CBG and Greenlane;



· The longstanding close working relationship between Chesterfield Biogas and Greenlane is expected to ensure a smooth integration process;



· The Acquisition is part of the Group's stated strategy to expand both organically and by acquisition; and



· The Board believes Greenlane has strong potential as part of the Pressure Technologies group.



The maximum total consideration for the Acquisition is NZ$25 million (£12.4 million), comprising an initial consideration of NZ$12.0 million (£6.0million) with additional deferred payments, split over four years, of up to a maximum of NZ$13.0 million (£6.4 million), based on the future financial performance of Greenlane. The initial consideration will be met from the Group's existing cash resources.



Alan Wilson, Chairman of Pressure Technologies, said: "We believe that this deal represents an excellent opportunity to expand the Group's Alternative Energy division with the acquisition of a business, intellectual property, technology and employees that we know very well. Our intention is to combine Greenlane's proven patented technology with our commercial and management capabilities to capitalise on the significant global market opportunity.



"The Acquisition will be integrated rapidly into the Group over the next six months and the Board expects it to be earnings enhancing in the year ending 1 October 2016."



Rob Fenwick, Chairman of Greenlane, said: "The combination of Greenlane and Pressure Technologies makes very sound business sense. Being part of a strong, growing AIM listed plc gives Greenlane the backing it needs to fulfil its true potential.



"Greenlane is considered one of New Zealand's global cleantech success stories. Under Pressure Technologies' ownership it secures a good cultural fit and I believe the acquisition delivers the best possible value to the stakeholders of both companies."



The effective date of the Acquisition is expected to be 1 October 2014. Further details of the terms of the Acquisition are set out below.



NZ$2.01:£1 exchange rate

Acquisition of Quadscot Holdings Limited

RNS


RNS Number : 1120T

Pressure Technologies PLC

01 October 2014






1 October 2014



Pressure Technologies plc

("Pressure Technologies", the "Company" or the "Group")



Acquisition of Quadscot Holdings Limited



Pressure Technologies announces that it has acquired the entire issued share capital of Quadscot Holdings Limited ("Quadscot") (the "Acquisition"), a provider of high quality computer controlled and conventional precision engineering and machining services primarily to the oil, gas and petrochemical industries.



Highlights



· The Acquisition is complementary to the Group's existing subsidiaries Al-Met Limited ("Al-Met") and Roota Engineering Limited ("Roota") and Quadscot will become part of the Engineered Products division

· Quadscot is a profitable and cash generative business that also benefits from good near term order book visibility

· The Board expects that the Acquisition will be immediately earnings enhancing

· Quadscot has significant opportunities to expand and extend its customer base following a recent large scale expansion of its manufacturing facilities

· The Acquisition is further evidence of the Board delivering on the Group's stated strategy to expand both organically and by acquisition and adhering to its strict acquisition criteria



The maximum total consideration for the Acquisition is £10.3 million (plus cash balances), comprising an initial cash consideration of £7.3 million (plus cash balances) ("Initial Consideration") with additional deferred payments, split over two years, of up to a maximum of £3.0 million, based on the future financial performance of Quadscot ("Additional Consideration"). The Initial Consideration will be met from the Group's new bank facilities and existing cash resources.



Alan Wilson, Chairman of Pressure Technologies, said: "The acquisition of Quadscot is further evidence of the Group's ability to identify well run, profitable businesses that will benefit from being part of Pressure Technologies, whilst also making a significant contribution to the future performance of the Group.



Quadscot has an excellent reputation in its market and we are delighted to welcome all of the employees to the Group."

Final Results

RNS


RNS Number : 1829Z

Pressure Technologies PLC

09 December 2014










Embargoed for release at 07.00 hours 9 December 2014



PRELIMINARY RESULTS 2014



Pressure Technologies plc ("Pressure Technologies" or the "Group") announces its preliminary results for the year ended 27 September 2014.



Financials:

· Record revenue of £54.0 million (2013: £34.4 million) - up 57%

· Underlying operating profit* of £7.8 million (2013: £3.3 million) - up 138%

· Operating profit of £5.6 million (2013: £2.9 million) - up 93%

· Basic earnings per share increased to 28.5p (2013: 19.4p) - up 47%

· Progressive dividend policy: final dividend up 8% to 5.6p per share giving total dividend for the year of 8.4p per share (2013: 7.8p)

· Balance sheet strengthened further with net funds of £5.8 million (2013: £4.0 million)

* before acquisition costs, amortisation on acquired businesses and exceptional costs



Highlights:

· Record revenues and profits with all divisions growing in the year

· Successful share placing in March, raising £16.1 million net

· Strategy of product and market diversification to reduce impact of cyclicality in the oil and gas industry continues apace:
- Acquisition of Roota Engineering, March
- Acquisition of Greenlane Biogas and Quadscot, post year-end

· Engineered Products division is now the largest contributor to revenue and profit

· New organisational structure with four divisions and divisional MDs to be introduced in 2015

· Strong management teams and market positions across all the Group's businesses driving growth

· New financial year began with order book 14% higher than the prior year





Alan Wilson, Chairman of Pressure Technologies, said:



"The Group will continue its growth strategy of combining acquisitions and organic growth. The priority with recent acquisitions is to complete their successful integration, but we may pursue further acquisitions if the right opportunities present themselves.



Continued organic growth must be viewed against a background of low global economic growth, geopolitical tensions and oil price uncertainty. Whilst it is pleasing to report that the Group ended the year with a like for like order book 14% higher than last year, we expect a reduction in sales into the deepwater oil and gas market in Cylinders, but continued growth through our other divisions as a result of our market position and the full year contribution of recent acquisitions. The Board views current market conditions with caution, but we start 2015 in a much stronger and more balanced position overall, so I am optimistic about the year ahead."



-Ends-

Profit warning.

Pressure Technologies has issued an update on recent trading and set out its current expectations for the financial year ending 3 October 2015 ahead of its AGM next week. - See more at: http://www.investorschampion.com/blog/ or http://tinyurl.com/nsnb7xq