For investors wishing to benefit from the boom in AI power demand, data centres, nuclear security, defence, energy independence and critical infrastructure, then look no further than Avingtrans  (Mrkcap £203m).

A specialist engineer that sells & services (33% aftermarket) mission critical kit into these buoyant end markets, where barriers to entry are high since failure is not an option. Here AVG's Advanced Engineering Systems (AES) division supplies high-tech pumps to nuclear plants via Hayward Tyler, cooling systems for data centres through Ormandy Rycroft Engineering, blast/fire/security doors for HS2 and defence applications through Booth Industries International, and high-integrity nuclear waste storage boxes for Sellafield via Metalscraft.

Today’s upbeat May FY’26 trading statement confirmed that profits would be in line with market expectations, with AES already securing a slew of new orders after the period end in June.

Here, Hayward Tyler won a $4m contract for spare parts at South Korea’s Hanbit Nuclear Power Station - alongside an $1.8m order from BWX Technologies for reactor components, which opens the door into the highly regulated US nuclear defence sector.

Elsewhere there’s been a further £2m for HS2 high-security and fire protection doors - taking the total to over £50m. Whilst Ormandy is expected to soon ship its tenth data centre solution, with the pipeline expanding to £40m.

Sure trading is currently being driven by AES. Yet equally over the next few years the Medical & Industrial Imaging (MII) division should follow suit too. FY’26 revenues were lower than planned due to the timing of regulatory clearances. Albeit Adaptix now has FDA 510(k) clearance and CE certification for Ortho350, while Scientific Magnetics has secured over 30 magnet/cryogenics orders for quantum computing applications.

CEO Steve McQuillan commenting: the “positive momentum” has continued into FY’27, with a strong pipeline providing “increasing visibility of future growth opportunities.”

Finally wrt the numbers, Cavendish are forecasting May FY’26 sales of £163.2m, £20.6m EBITDA and 31.7p EPS – climbing to £188.3m (+15%), £24.4m (+17%) and 37.7p (+19%) for FY’27. Equating to forward multiples of 16x PER, 8.9x EV/EBITDA and a PEG of 0.85 - which looks attractive for a niche engineer exposed to the nuclear, defence, data centre, Sellafield, HS2 and aftermarket sectors. Cavendish have a 681p/share target price albeit only ascribing £20m of value to MII.

Finally the one-off $5m US PPP repayment, is expected to be repaid over 24 months, leaving AVG’s Est FY27 net debt position (ex leases) at £14.8m (Est £12m FY26), representing a comfortable 0.6x EBITDA.

Disclosure: Avingtrans is a Vox Markets client.