Crestchic is a specialist provider of electrical equipment used primarily to commission, test and service within power reliability and power security markets globally. It changed its name from Northbridge Industrial Services in June 2022.

07 Jul 2022

Factory extension open to satisfy demand

A site visit to Burton-on-Trent for the official opening of the new manufacturing facility proved most encouraging. On an annualised basis, the new facility increases production by 60%, while reducing the backlog of orders, increasing the rental fleet, and providing the necessary space to refurbish additional equipment.

The new factory is not the only new development. Two new branches – one in the US (Fort Worth, Texas) and the move to a larger facility in Antwerp, Belgium to ultimately include the rental of loadbanks (currently transformers only) - further targets the buoyant datacentre market across two of the Group’s largest geographical regions. The new manufacturing facility will supply both new branches with inventory.

We leave our DCF-based fair value / share unchanged at 249p, representing a 30% premium to the current price.

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