AB Dynamics
Solid and executing perfectly in a growing market, but valuation is (probably) full
UK-based AB Dynamics ($ABDP.L) is a £450 million leading provider of advanced measurement and testing equipment and verification solutions to the global automotive market: the company designs and manufacturers test equipment for vehicle suspension, steering, noise, and vibration. It also provides driverless solutions in controlled environments.
“We accelerate our customers’ drive towards net zero emissions, improving road safety and the automation of vehicle applications”
ABDP has been listed since 2013 on the AIM segment of the London Stock Exchange. It is 24% owned by Anthony Best,1 with Octopus Investments the second largest shareholder at 10% and the rest free float (mostly UK asset/wealth managers and brokers).
Products & services
In its early days, ABDP tested vehicles’ suspension systems for vibration damages: today, its testing equipment and services are applied to much more sophisticated systems such as ADAS (collision warnings and avoidance, automatic braking, lane control, park assistance) and advanced/autonomous driving.
Testing products (62% of revenues). ABDP provides global customers with laboratory and track testing products to develop the next generation of steering, suspension, electrical and driver assistance systems. The segment also includes driverless solutions used in industrial applications and adjacent markets such as the mining industry and specialist vehicles.
The main product categories include driving robots and ADAS platforms used on proving grounds and test tracks and Suspension Parameter Measurement Machines (SPMM) used in laboratory testing.
