Rotork plc (LSE:ROR) will look for bolt-on M&A. Kiet Huynh said, "Next is strategic investment. We believe disciplined bolt-on M&A can support and potentially accelerate our strategy whilst at the same time contributing to shareholder returns. And finally, if at any time we consider ourselves to have excess cash, we will look to return it.

Consistent with this capital allocation framework, we have today announced the return of GBP 50 million via share buyback, whilst retaining the financial flexibility should the opportunities within our M&A pipeline convert".