Global engineering technology firm Reinshaw has taken complete ownership of UK-based
The purchase of the remaining 34% shareholding by Reinshaw for €5.2 million (£4.5mn) concludes an agreement reached between the two companies in 2010, when Renishaw purchased an initial 29% stake in MDL.
Steve Ball, the founder of MDL, will be leaving the company, whilst Elaine Ball, MDL’s managing director, will report to Renishaw through Will Lee, director and general manager of Renishaw’s laser & calibration products division.
Ben Taylor, Renishaw’s assistant chief executive, said: “We see significant opportunities in the fields in which MDL operates and we are working hard to develop new measurement products based on our combined experience, to leverage our global sales and marketing networks, and to integrate our in-house design and manufacturing capabilities.”
MDL’s managing director, Elaine Ball, said that an “exciting new phase” had been entered in MDL’s 30-year history.
“With the backing of the Renishaw Group we are very confident of continuing to expand in the global market for laser surveying and scanning measurement products,” she added.
Based in York, northern England, MDL supplies a range of laser-based, time-of-flight measurement systems used in quarrying, mining, marine positioning, aviation, civil engineering and traffic control applications worldwide. In December 2012, to meet rising customer demand for its products, the firm took occupancy of a new €3.46 million (£3mn) 1,858m² premises adjacent to its headquarters in York, northern England.
Employing around 70 staff at York, MDL also has staff at offices in Scotland, Canada, Australia and the U.S.
