Global Capital Goods Undervalued Small Caps

Orion Group Holdings

Market Cap: US$454.5m

Operates as a specialty construction company for the infrastructure, industrial, and building sectors in the United States, Canada, and the Caribbean Basin.

Cirrus Aircraft

Market Cap: HK$15.1b

Manufactures and sells piston aircraft and single-engine turbine jets worldwide.

Gibraltar Industries

Market Cap: US$1.2b

Manufactures and provides products and services for the residential, agtech, and infrastructure markets in the United States and internationally.

Nolato

Market Cap: SEK 13.7b

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

Alimak Group

Market Cap: SEK 12.0b

Designs, manufactures, sells, and services vertical access and working at height solutions worldwide.

Power Solutions International

Market Cap: US$1.8b

Designs, engineers, manufactures, markets, and sells engines and power systems in the United States, the rest of North America, the Pacific Rim, Europe, and internationally.

J. Kumar Infraprojects

Market Cap: ₹35.6b

Engages in the construction business in India.

Evergreen Aviation Technologies

Market Cap: NT$56.2b

Provides aircraft maintenance services to airline partners in Taiwan and internationally.

Symal Group

Market Cap: AU$538.1m

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

Zehnder Group

Market Cap: CHF 780.3m

Develops, manufactures, and sells indoor climate systems in Europe, North America, and China.

Shanghai Hanbell Precise Machinery

Market Cap: CN¥13.1b

Shanghai Hanbell Precise Machinery Co., Ltd.

Soilbuild Construction Group

Market Cap: S$642.0m

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

Ashtead Technology Holdings

Market Cap: UK£379.6m

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

Lucky Harvest

Market Cap: CN¥8.1b

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

Jinlei Technology

Market Cap: CN¥9.4b

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

Norcros

Market Cap: UK£266.9m

Designs and supplies bathroom and kitchen products in the United Kingdom, Ireland, and South Africa.

Eurocell

Market Cap: UK£111.4m

Engages in manufacture, distribution, and recycling of windows, doors, and roofline polyvinyl chloride (PVC) building products in the United Kingdom and the Republic of Ireland.

Hong Leong Asia

Market Cap: S$2.2b

An investment holding company, manufactures and distributes powertrain solutions and related products, building materials, and rigid packaging products in the People’s Republic of China, Singapore, Malaysia, and internationally.

Tai Sin Electric

Market Cap: S$260.0m

Manufactures and deals in cable and wire products in Singapore, Malaysia, Brunei, Vietnam, Indonesia, Myanmar, Cambodia, Thailand, and internationally.

Dat Phuong Group

Market Cap: ₫5.1t

Engages in the real estate construction and development business in Vietnam.

First Tractor

Market Cap: HK$14.0b

Engages in the manufacturing and sale of agricultural machinery and power machinery.

Energy Recovery

Market Cap: US$586.9m

Designs, manufactures, and sells energy efficiency technology solutions in the United States, North, South and Latin America, the Middle East, Northern Africa, Asia, and Europe.

Implenia

Market Cap: CHF 1.2b

Provides construction and real estate services in Switzerland, Germany, Austria, Norway, Sweden, France, and internationally.

R&S Group Holding

Market Cap: CHF 900.1m

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

Energiekontor

Market Cap: €537.7m

A project developer, engages in the planning, construction, and operation of wind and solar parks in Germany, Portugal, Scotland, and the united States.

Austal

Market Cap: AU$2.0b

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

Nordic Group

Market Cap: S$211.0m

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.

HMS Bergbau

Market Cap: €202.6m

Engages in trading and distributing coal and other energy raw materials to energy producers, cement manufacturers, and industrial consumers worldwide.

Storskogen Group

Market Cap: SEK 15.8b

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

TAT Technologies

Market Cap: US$580.5m

Provides solutions and services to the commercial and military aerospace and ground defense industries in the United States, Israel, and internationally.

MilDef Group

Market Cap: SEK 6.0b

Develops, manufactures, and sells rugged IT solutions in Sweden, Norway, Finland, Denmark, the United Kingdom, Germany, Switzerland, the United States, Australia, and internationally.

HD-Hyundai Marine Engine

Market Cap: ₩2.7t

Manufactures and sells marine engines, industrial facilities, and plants in South Korea and internationally.

Oswal Pumps

Market Cap: ₹42.4b

Manufactures and sells solar pumps in India.

Lindab International

Market Cap: SEK 12.5b

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

DEUTZ

Market Cap: €1.5b

Engages in the development, production, distribution, maintenance, and servicing of diesel and gas engines in Germany, Rest of Europe, the Middle East, Africa, the Asia Pacific, and the United States.

Scott Technology

Market Cap: NZ$212.8m

Engages in the design, manufacture, sale, and servicing of automated and robotic production lines and processes for various industries in New Zealand and internationally.