Cowes-based Strainstall, which designs and manufactures monitoring systems for use at sea and in hazardous areas, has been sold.
James Fisher and Sons PLC announced on Tuesday that the UK-based arm of Strainstall had been sold to BES Group for £13.6million, with a potential for a further £3.9million to be paid in early 2023. BES Group is a specialist in testing, inspections and certification.
It’s said that the Board decided that the business would be better able to continue development outside of James Fisher, in line with a strategy to rationalise and focus the Group’s portfolio.
Strainstall operates from its base at Mariners Way at Somerton, Cowes and has been an employer on the Island for some 57 years. In 2012, a 10,000 sqft manufacturing base was also established at Bembridge Airport.
The future of the business’ Isle of Wight operations is unclear, but for now, it is business as usual with existing management and staff transiting with the businesses to the new owners.
Strainstall will continue to operate under the James Fisher brand for a short period.
Strainstall has been sold alongside sister companies Mimic and Prolec.
Commenting on the sales, Jean Vernet, CEO James Fisher and Sons plc, has said:
“The sale of Prolec, Mimic and the UK operations of Strainstall represent a clear demonstration of our strategy to rationalise and focus the portfolio, as well as strengthening our financial position. We believe the transactions represent good value for James Fisher’s shareholders and in BES and Lifco, we have found buyers of quality.
“We wish them and the staff at each of the businesses continued success and thank them for their hard work and dedication to James Fisher over many years.”
This headline is completely mis-leading. Strainstall is very much Business as usual a change of ownership at top level with no impact on current operations.