It appears to be an Arbor Press as MachineTom says. I have enclosed a picture of one from another angle so you can see what they look like. Depending what you are doing they can be a very handy piece of equipment to have around the shop. :bow:
Yep the back view of an arbor press. Originally purchased and used for assembling pen and pencil sets. Made for assembling disassembling items that have a press fit like bearings and bushings on model engines. also shafts to crank disks etc.
Tin
Like any other tool many choices . How much are you going to use it? How much do you have to spend ? how big do you need? do you want top quality name brand like dake or palgren or will and import do? The bigger ones can be used for broaching key ways et.
Mine is a phase II but looks a lot like this one except for the color. Grizzly G4018 Arbor Press 1 Ton
I would expect the palmgren to be a bit nicer.
Tin
As Tin mentioned, the larger models can be used for broaching. If you ever intend to use a broach get one with a long enough stroke for that. If you don't have to make keyways over.125" you can use type A broaches that are only 5" long so you can use a fairly small arbor press. For bigger keyways you need a pretty big press for the longer broaches.
I bought a small arbor press but then ended up doing broaching on my hydraulic press which is very awkward.
I don't know if US or UK guys use this kind of press, but although small, it's very strong producing a 500Kg load. More than enough for hobby work.
If you have the money for a arbor press, go for it! You will wonder how did you got without one!