Industrials

The short answer is that visibility rests on three relationships, with Speedy, Komatsu and Protium, plus an unnamed large US partner. Only some of these carry disclosed values, and the most strategically important, the Protium ammonia cracker deal, is still at heads of terms …

Electrolysers use electricity to split water into hydrogen and oxygen. If the electricity comes from renewable sources, the hydrogen is described as green. ITM Power makes proton exchange membrane electrolysers, a design that responds quickly to changes in power supply, which suits renewable energy. …

Judges follows a buy-and-build model, acquiring specialist instrument makers that are often owner-managed and leaving them to operate independently under group oversight. Its products include instruments for materials analysis, vacuum technology and other scientific uses. Because eachBusinessserves a niche, results depend on the funding …

James Halstead (LSE:JHD) manufactures and distributes commercial vinyl flooring, under brands including Polyflor, for markets such as education, healthcare, hospitality and housing, with a long-established export business.Revenuefor FY26 dipped to £259.9m from £262.0m and pre-tax profit fell 13% to £48.2m from £55.1m. GrossMarginheld at …

Knights acquires regional law firms and brings them into one structure with shared systems and central functions. Because lawyers are employed rather than being owner-partners, the group has more control over costs and standards, and it can add services such as privateWealthor commercial work …

LSE:LTHM is a long-established importer and distributor of timber, panels and decorative surfaces, supplying joiners, shopfitters, merchants and manufacturers across the UK from a network of depots. Chaired by Nick Latham, theBusinessis exposed to construction, refurbishment and fit-out activity, which tends to track broader …

MHA provides audit and assurance, tax, accountancy and advisory services from 32 offices in the UK, Ireland, South-East Europe, the United Arab Emirates and the Cayman Islands. It floated on AIM in 2025 and employs more than 2,300 people, including 157 partners. A high …