FTSE 250 group Chloride – a supplier of international back-up power– has once again been tipped as a stock ripe for future growth. 

The company currently provides systems to prevent power-loss to hospitals, public transport companies and football clubs.

They have a broad range of customers from Chelsea FC to BT and London Underground. Around 50 per cent of the group’s sales come from Western Europe and a further 16 per cent from Asia.

In December, the company also acquired a Lyon-based secure power business, which analysts believe will strengthen the business’s position in energy and infrastructure in France.

Despite this, with the best opportunities now in the East, the company has decided to ramp up activity in places like Vietnam, South Korea and The Philippines.

Nick Raynor, investment adviser at The Share Centre, says that the FTSE 250 group has a sound balance sheet and there has been a steady rise in dividends (it increased by 3 per cent to 1.9p).

He added, ‘We see Chloride as one to buy for long term growth. While Chloride is not a household name, we believe that it will raise its profile this year, especially if it is taken over by a foreign predator. ‘In 2008, it rejected an offer from US rival Emerson for £657 million.’