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A team at FSP led by corporate partner Penelope Garden have advised the shareholders of Dia-Stron Limited on the sale of the entire issued share capital of the company to Judges Scientific plc for a cash purchase price of £2.75 million and an additional payment to reflect excess working capital over and above the ongoing requirements of the business. Dia-Stron Limited, established in 1987, by Nigel Winsey (managing director), Lynn Winsey (finance director and company secretary) and Steve Bucknell (technical director) specialises in the design and manufacture of automated systems to test mechanical properties of fibres, primarily in relation to tensile strength. It is a market leader in testing natural hair fibres and its products are sold worldwide. Nigel Winsey and Steve Bucknell remain as directors of Dia-Stron Limited post-transaction.
Nigel Winsey, managing director and majority shareholder said:
“I enjoyed working with Penelope and the team in a relaxed but highly efficient process.”