MD Gareth takes the reins at Statiflo
AN engineering company which designs equipment for the water, oil and gas industries worldwide has been bought by its managing director.
Gareth Fry, 36, has acquired a majority stake in Statiflo International for an undisclosed sum.
The Macclesfield-based company, which has subsidiaries in the US and Germany, was wholly owned by chairman and chief executive John Baron, who founded Statiflo in 1983 in a spare bedroom at his home in Wilmslow.
Fo l l owing the deal, Gareth has a 70 per cent stake, while John retains 30 per cent.
John, 66, is staying on as chairman.
Statiflo, which is based on Wood Street, has 23 staff and annual revenues of more than £4m. It designs and sells static mixers and other chemical process equipment which is used in more than 80 countries worldwide.
The bulk of its revenue comes from the water and wastewater treatment industries and it also supplies the oil and gas, petrochemical, food, pharmaceutical, pulp and paper sectors.
Gareth joined as sales manager in 2008 and became head of sales then operations director before he was appointed manag- ing director last November as the succession plans took shape.
A team at accountancy firm Hurst, including chief executive Tim Potter, partner Paul Brown and assistant manager Rachel Jackson, advised on the deal.
Legal advice was provided by Chris Dunn and Nicholas Emmerson at Gateley.
John Baron said: “I have reached the stage where I am ready to hand over the reins and Gareth is the ideal successor. He is extremely knowledgeable and experienced and I’m confident that Statiflo will continue to thrive under his leadership.”
Gareth said: “I’ve spent my entire career involved in the design and supply of process-related equipment. I’m passionate about the products and the benefits they bring to the world’s process industries.
“This deal secures the future of a very successful global business. I am looking forward to maintaining and developing, in particular, our very strong position in the global water industry and continuing our growth in the oil and gas sector.”
Gareth has taken immediate action to drive Statiflo’s growth, by recruiting Ron Russ to the new post of global sales and marketing director.
●» From left: John Baron, Tim Potter and Gareth Fry at Statiflo