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MD Engineers Macclesfield Buyout
The managing director of a Macclesfield-headquartered engineering company has bought a majority stake in the business from its founder.
Gareth Fry, 36, has acquired Statiflo International from chairman and chief executive John Baron who founded the company in a spare bedroom at his home in Wilmslow in 1983. Following the deal, Fry holds a 70 per cent stake while Baron retains 30 per cent.
Statiflo, which has subsidiaries in the US and Germany, has 23 members of staff and annual revenues of more than £4m. It designs and sells static mixers and other chemical process equipment used in more than 80 countries.
The bulk of its revenues come from the water and wastewater treatment industries but it also supplies the oil and gas, petrochemical, food, pharmaceutical, pulp and paper sectors. Read More
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