Global Capital Goods Undervalued Small Caps

Altea Green Power

Market Cap: €135.1m

Supplies and manages renewable energy plants in Italy and the United States.

Nolato

Market Cap: SEK 14.0b

Develops, manufactures, and sells plastic, silicone, and thermoplastic elastomer products in Europe, Asia, North America, and internationally.

Symal Group

Market Cap: AU$576.3m

Provides construction contracting, equipment hires, material sales, recycling, and remediation services to the civil construction industry in Australia.

Lucky Harvest

Market Cap: CN¥9.2b

Engages in the research, development, production, and sale of precision stamping dies and structural metal parts in China.

Ashtead Technology Holdings

Market Cap: UK£342.2m

Provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East.

Jinlei Technology

Market Cap: CN¥8.7b

Engages in the research, development, manufacture, machining, and sale of wind turbine main shafts, and various castings and forgings in China and internationally.

Enviro Infra Engineers

Market Cap: ₹28.2b

Engages in the design, construction, operation, and maintenance of water and wastewater treatment plants (WWTPs) and water supply scheme projects (WSSPs) for government authorities and bodies in India.

AKVA group

Market Cap: NOK 3.6b

Designs, purchases, manufactures, assembles, sells, and installs technology products; and provides rental and consulting services for the aquaculture industry.

Raya Holding Company for Financial Investments (S.A.E)

Market Cap: ج.م23.3b

Operates in information technology, data center outsourcing, contact center, smart buildings, consumer electronics, food and beverage, land transport, E-payments, and non-banking financial services fields in Egypt and internationally.

R&S Group Holding

Market Cap: CHF 862.9m

Manufactures and supplies electrical infrastructure products the United Kingdom, Switzerland, Ireland, Italy, Poland, and the Middle East.

Moreld

Market Cap: NOK 2.9b

Provides integrated solutions for the energy, marine, and industrial sectors in Norway and internationally.

NittokuLtd

Market Cap: JP¥43.6b

Develops, manufactures, sells, and services automatic winding machines, and related machinery and parts in Japan and internationally.

Nordic Group

Market Cap: S$197.1m

Provides solutions in the areas of system integration, maintenance, repair, overhaul, trading, precision engineering, scaffolding, insulation, petrochemical and environmental engineering, cleanroom, air and water engineering, and engineering and construction services.

Austal

Market Cap: AU$2.1b

Engages in the design, manufacture, and support of vessels for commercial and defense customers in the United States, Australia, Europe, Asia, and South America.

Morimatsu International Holdings

Market Cap: HK$13.0b

Designs, manufactures, installs, operates, and maintains core equipment, process systems, and solutions primarily for chemical reactions, biological reactions, and polymerization.

Genuit Group

Market Cap: UK£939.9m

Develops and produces solutions for water, climate, and ventilation management in the construction industry in the United Kingdom, rest of Europe, and internationally.

MT Højgaard Holding

Market Cap: DKK 3.3b

Engages in the provision of construction, civil engineering, and infrastructure services for private and public customers in Denmark and internationally.

Storskogen Group

Market Cap: SEK 15.8b

Owns and develops small and medium-sized businesses operating in trade, industry, and services business areas.

Magellan Aerospace

Market Cap: CA$1.2b

Through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe.

Bird Construction

Market Cap: CA$1.7b

Provides construction services in Canada.

NittoseikoLtd

Market Cap: JP¥28.6b

Manufactures and sells industrial fasteners and tools, industrial machinery and precision equipment, measurement and control equipment, and medical equipment in Japan, rest of Asia, and internationally.

Shuangdeng Group

Market Cap: HK$6.0b

Provides energy storage solutions in China.

Hantech

Market Cap: ₩423.7b

Produces and sells chemical process equipment/storage tanks and cryogenic containers in South Korea.

KUMHO Engineering & Construction

Market Cap: ₩198.2b

KUMHO Engineering & Construction Co., Ltd.

PC1 Group

Market Cap: ₫10.7t

Engages in the construction, industrial production, real estate, energy, trading, exploitation and operation of industrial zone, mining, and other businesses in Vietnam.

Alimak Group

Market Cap: SEK 13.2b

Alimak Group AB (publ) desigs and manufactures vertical access solutions in Europe, Asia, Australia, South and North America, and internationally.

Lindab International

Market Cap: SEK 13.3b

Manufactures and sells products and solutions for ventilation systems in Sweden, Denmark, Germany, France, the United Kingdom, Norway, Ireland, and internationally.

J. Kumar Infraprojects

Market Cap: ₹41.4b

Engages in the construction business in India.

Lum Chang Creations

Market Cap: S$259.9m

Operates as an urban revitalization specialist that offers conservation and restoration works in Singapore and Malaysia.

Gesco

Market Cap: €154.8m

Operates in the process, resource, healthcare, and infrastructure technology sectors in Germany, rest of Europe, the United States, and internationally.

Cambi

Market Cap: NOK 2.9b

Provides thermal hydrolysis solutions for sewage sludge and organic waste management in Europe, the Americas, Asia, Africa, and Oceania.

Electrolux Professional

Market Cap: SEK 16.8b

Provides food service, beverage, and laundry products and solutions to restaurants, hotels, healthcare, educational, and other service facilities.

LSI Industries

Market Cap: US$642.0m

Manufactures, markets, and sells non-residential lighting and retail display solutions in the United States.

Rayhoo Motor DiesLtd

Market Cap: CN¥7.4b

Engages in the automobile manufacturing equipment and automobile lightweight parts businesses in China and internationally.

TK Group (Holdings)

Market Cap: HK$2.1b

An investment holding company, engages in the manufacture, sale, subcontracting, fabrication, and modification of molds and plastic components.

Soilbuild Construction Group

Market Cap: S$741.3m

An investment holding company, engages in the residential and business space properties construction in Singapore, Myanmar, Malaysia, and internationally.