Statiflo MD acquires majority stake

Gareth Fry, 36, has acquired a majority stake in the Macclesfield-based engineering company he runs.

Statiflo designs equipment for the water, oil and gas industries worldwide and has subsidiaries in the US and Germany. It had been wholly owned by chairman and chief executive John Baron, 66, who founded Statiflo in 1983 in a spare bedroom at his home in Wilmslow.

MD Gareth has secured a 70 per cent stake while John retains 30 per cent. John wlll stay on as chairman.

Statiflo has 23 staff and annual revenues of more than £4m.The bulk of its revenue comes from the water and wastewater treatment in the oil and gas, petrochemical, food, pharmaceutical, pulp and paper sectors.

Gareth joined as sales manager in 2008 and becoming head of sales, then operations director, before he was appointed managing director last November.

Accountantcy firm HURST advised on the deal with legal advice from 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.

Tim Potter said: “Statiflo is a great business, and we have been proud to advise the company over many years.

“It is always rewarding to help an entrepreneurial team whose primary focus is to export high-tech engineering – this is precisely the type of business our economy needs.

“John has built a strong and successful international business and should be proud of his achievements. Gareth and his succession team are highly talented and have a great vision. We look forward to helping them on their journey.”

Main image: left to right, John Baron, Tim Potter (HURST) and Gareth Fry.