Metrology and software provider Measurement Solutions Ltd is charged with new growth after the business successfully completely a Management Buy-Out (MBO).
The MBO has seen new shareholders buying into the business, with a view to leading a focused expansion for the company within the measurement technology sector.
The Peterborough and Derby-based company will now be owned by IDT Group Limited, a newly-registered investment platform of IDT Group Directors Andrew Tagg and Iain Caville, through the sale of 100% of the shareholding in Measurement Solutions Limited.
IDT Group, which is an acronym for Industrial Digital Technologies, will have a shareholding that now comprises Andrew Tagg, formerly the Business Development Director of Measurement Solutions, and the original founders of Measurement Solutions Limited, Iain and Barbara Caville.
The Measurement Solutions management board will now comprise of Andrew Tagg as Managing Director and Jason Bridge as Sales Director. The existing Directors and owners of Measurement Solutions, Iain and Barbara Caville, are standing down and will no longer be directly involved with the day-to-day running of the business.
Andrew Tagg brings with him around 15 years’ experience within the portable metrology industry, with success in both UK and Global sales management roles. Iain Caville is well-known within the UK metrology sector, having over 30 years metrology experience with a range of major players, and for the last 21 years with Measurement Solutions.
Announcing the changes, Mr. Caville revealed that the key growth opportunities for IDT Group are clear and significant.
He said: “First and foremost, the Measurement Solutions brand will continue to provide customers with market leading solutions in the fields of 3D inspection software, portable metrology solutions such as 3D scanning, and fully automated metrology solutions including CMM’s and automated industrial robot inspection. From that point of view, nothing will change.
“However, we also want to expand further into the digital measurement and information sectors, predominantly around the current trend in manufacturing automation and data exchange known as Industry 4.0.
“In addition, we see an opportunity to work with other leading technology partners who may not wish to invest resources at this time in the UK, especially with the challenges that Brexit is most certainly going to bring. So, this transaction is beyond just an ownership change: it is driven by the aim to create a platform for growth with a clear strategic direction.”
Since 1998, Measurement Solutions has been the UK partner and reseller for some of the industry’s leading companies, including Metrologic Group (France), Creaform (Canada), Q-DAS (Germany) and Coord3 (Italy).
Mr Caville said the organisation had seen strong year-on-year growth over the last five years, but the strategic positioning and rapid success of the company had also limited the opportunities for development and growth into other market sectors and working with other partner companies.
“The new organisation now enables our existing, well-known brand to focus on what it does best, while providing the structure to consider other markets and industry players going forwards,” he said.
There are no immediate plans to expand the current team of 15 employees, as the management wishes to consolidate and adjust to the new organisational structure. However, IDT Group intends to maintain its position as a reseller partner for industry leaders.
Mr Tagg said: “Unlike the major OEM’s, who can only supply ‘own brand’ products, our goal is always to provide the right solution every time by selecting and combining the latest innovative and leading-edge technologies according to the customer’s specific requirements.
“By being able to offer a wide range of solutions from technology leaders, Measurement Solutions has become renowned for providing best-practice solutions, both in the form of products and services, to some of the UK’s leading automotive, aerospace, manufacturing and educational organisations. As an independent group of companies, we can develop our own strategy and align our structures in an even more targeted manner to the needs of our market and customer segments.”
Both men see significant opportunities through the withdrawal of the UK from the EU, as technology companies with innovative and cutting-edge products may find it more difficult to establish sales in the UK following Brexit. The aim of IDT Group is to provide an experienced and well-established platform for those companies to enter the UK manufacturing sector with a tried and tested partner.
In conclusion, Mr Caville said: “It has long been my wish as the original founder of Measurement Solutions to ensure a stable future for the company, its team of dedicated employees, and our long-term partners who rely on our activities. We are delighted to have had the chance to put a plan in place with a great new shareholder and management team, and to have the opportunity to be part of an exciting new chapter for IDT Group and Measurement Solutions Ltd.”