U.K. Capital Goods Potentially Undervalued Companies

DP Aircraft I

Market Cap: US$35.2m

Through its subsidiaries, acquires, leases, and sells aircraft in Guernsey and internationally.

Tulikivi

Market Cap: €26.0m

Manufactures and sells fireplaces, sauna heaters, and interior stone products in Finland, the United States, and rest of Europe.

ASSA ABLOY

Market Cap: SEK 356.8b

Provides door opening and access products for the institutional, commercial, and residential markets.

Bucher Industries

Market Cap: CHF 4.0b

Engages in the manufacture and sale of machinery, systems, and hydraulic components for harvesting, producing and packaging food products, and keeping roads and public spaces clean and safe in Asia, the United States, Europe, and internationally.

Per Aarsleff Holding

Market Cap: DKK 12.5b

Provides infrastructure and construction services for societies in Denmark and internationally.

Lisi

Market Cap: €2.1b

Designs and produces assembly and component solutions for the aerospace, automotive, and medical sectors in France and internationally.

Wabash National

Market Cap: US$430.3m

Manufactures engineered solutions and services for transportation, logistics and infrastructure industry in the United States.

KION GROUP

Market Cap: €7.6b

Provides industrial trucks and supply chain solutions in Western and Eastern Europe, the Middle East, Africa, North America, Central and South America, China, and the rest of the Asia Pacific.

Ashtead Group

Market Cap: UK£21.6b

Engages in the construction, industrial, and general equipment rental business under the Sunbelt Rentals brand name in the United States, the United Kingdom, and Canada.

Morgan Sindall Group

Market Cap: UK£2.0b

Operates as a construction and regeneration company in the United Kingdom.

LPA Group

Market Cap: UK£5.9m

Engages in the design, manufacture, and marketing of industrial electrical and electronic products in the United Kingdom, rest of Europe, and internationally.

Bossard Holding

Market Cap: CHF 1.3b

Provides industrial fastening and assembly solutions in Europe, the United States, and Asia.

Knorr-Bremse

Market Cap: €12.7b

Develops, produces, and markets brake systems for rail and commercial vehicles and other safety-critical systems worldwide.

Illinois Tool Works

Market Cap: US$75.7b

Provides industrial products and equipment in North America, Europe, the Middle East, Africa, the Asia Pacific, and South America.

SinterCast

Market Cap: SEK 774.7m

Provides process control technology to produce compacted graphite iron (CGI) for the foundry and automotive industries in Brazil, Mexico, Sweden, the United States of America, Korea, China, Spain, Japan, the United Kingdom, and internationally.

Theon International

Market Cap: €2.1b

Develops and manufactures customizable night vision, thermal imaging, and electro-optical ISR systems for military and security applications in Europe and internationally.

BAE Systems

Market Cap: UK£59.5b

Provides defense, aerospace, and security solutions in the United States, the United Kingdom, the Middle East, Australia, Japan, Europe, and internationally.

Svedbergs Group

Market Cap: SEK 2.3b

Develops, manufactures, and markets bathroom products in the Nordic region, the United Kingdom, and the Netherlands.

Kempower Oyj

Market Cap: €601.9m

Manufactures and sells electric vehicle (EV) charging equipment and solutions for cars, buses, trucks, boats, aviation, and machinery in Nordics, rest of Europe, North America, and internationally.

Bergman & Beving

Market Cap: SEK 3.9b

Provides solutions for the manufacturing and construction sectors in Sweden, Norway, Finland, and internationally.

Bonheur

Market Cap: NOK 12.4b

Engages in the renewable energy, wind service, and cruise businesses in the United Kingdom, Norway, Europe, Asia, the Americas, Africa, and Internationally.

3M

Market Cap: €82.0b

Provides diversified technology services in the Americas, the Asia Pacific, Europe, the Middle East, Africa, and internationally.

Siemens

Market Cap: €176.2b

A technology company, focuses in the areas of automation and digitalization in Europe, Commonwealth of Independent States, Africa, the Middle East, the Americas, Asia, and Australia.

Iveco Group

Market Cap: €4.9b

Engages in the design, production, marketing, sale, servicing, and financing of trucks, commercial vehicles, buses and specialty vehicles, combustion engines, alternative propulsion systems, transmissions, axles, engines, alternative propulsion systems, construction equipment, marine, and power generation applications in Europe, South America, North America, and internationally.

Electrolux Professional

Market Cap: SEK 17.2b

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

Frauenthal Holding

Market Cap: €180.6m

Engages in the wholesale of plumbing, heating, and electrical supplies through showrooms, cash and carry stores, and online in Austria and internationally.

Hexagon Purus

Market Cap: NOK 701.9m

Provides hydrogen and battery energy storage solutions.

James Halstead

Market Cap: UK£660.6m

Manufactures and supplies flooring products for commercial and domestic uses in the United Kingdom, rest of Europe, Scandinavia, Australasia, Asia, and internationally.

RS Group

Market Cap: UK£2.7b

Engages in the distribution of maintenance, repair, and operations products and service solutions in the United Kingdom, the United States, France, Mexico, Germany, Italy, Switzerland, and internationally.

Alligo

Market Cap: SEK 5.4b

Offers workwear, personal protection equipment, tools, and consumables in Sweden, Norway, and Finland.

Vinci

Market Cap: €62.3b

Engages in concessions, energy, and construction businesses in France and internationally.

PACCAR

Market Cap: US$50.9b

Designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally.

BayWa

Market Cap: €674.8m

Provides wholesale, retail, logistics, and support and consultancy services in Germany and internationally.

Instalco

Market Cap: SEK 7.2b

Provides installation services in the electrical, heating and plumbing, ventilation, technical consulting, and industrial areas in Sweden and rest of the Nordics.

NKT

Market Cap: DKK 34.0b

Designs, manufactures, and installs low, medium, and high voltage power cable solutions in Denmark.

QinetiQ Group

Market Cap: UK£2.8b

Provides science and technology solution in the defense, security, and infrastructure markets in the United Kingdom, the United States, Australia, and internationally.