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Snorkel Momentum Builds: Tanfield’s Discount May Not Last

Feb 20, 2026 | Team Kalkine
Snorkel Momentum Builds: Tanfield’s Discount May Not Last
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  • TAN:LSE
  • Investment Type
    Small-Cap
  • Risk Level
  • Action
  • Rec. Price (GBX)

This is an updated version of the report published on February 20, 2026, at 11:43 AM GMT 

Tanfield Group PLC (LSE: TAN) is a United Kingdom-based investment company. The Company owns interests in Snorkel International Holdings LLC (Snorkel) and Smith Electric Vehicles Corp. (Smith). Snorkel is a global producer of self-propelled, towable and push-around aerial lifts, including diesel and electric scissor lifts, mast lifts, telescopic boom lifts and articulating booms.  

Fundamental Highlights – Speculative Buy at GBX 6.20

The Board has provided an update on its 49% investment in Snorkel International Holdings LLC, confirming further progress in the ongoing US legal proceedings. The Court has now ruled that Snorkel exercised its November 2018 Call Option and must pay the Preferred Interest together with the Option Price to acquire Tanfield’s stake, although the calculation of the Option Price remains subject to trial. While certain matters are still to be determined, the Board considers the recent rulings to be positive and expects the trial to commence in March or April 2026.

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