Renishaw Completes Acquisition of MDL

Renishaw has taken full ownership of Measurement Devices Ltd (MDL). The worldwide engineering technologies company has purchased the remaining 34% shareholding for a cash payment of GBP4.5 million. The acquisition of the shares concludes an agreement reached in 2010, at which time Renishaw purchased an initial 29% stake in MDL, a UK-based business specialised in designing and manufacturing high-speed laser measurement and surveying systems for use in extreme environments.

Steve Ball, the founder of MDL, will be leaving the company, whilst Elaine Ball, MDL's managing director, will report to Renishaw through Will Lee, director and general manager of Renishaw's laser and calibration products division.

Renishaw's assistant chief executive, Ben Taylor, who is chairman of the MDL board, commented that his company sees significant opportunities in the fields in which MDL operates and is working hard to develop new measurement products based on their combined experience, to leverage their global sales and marketing networks, and to integrate the in-house design and manufacturing capabilities.

Commenting on the company becoming a wholly owned Renishaw subsidiary, MDL's managing director, Elaine Ball, said that MDL is now entering a new phase in its 30-year history. With the backing of the Renishaw Group, MDL is very confident of continuing to expand in the global market for laser surveying and scanning measurement products, she added.

York-based MDL was established in 1983 and supplies a range of laser-based, time-of-flight measurement systems used in a wide range of applications worldwide in quarrying, mining, marine positioning, aviation, civil engineering and traffic control. In December 2012, to meet rising demand for its products, the company took occupancy of new additional premises adjacent to its headquarters in York. The new GBP3 million facility will become the base for MDL's production, service and R&D departments. The company currently has around 70 staff at York and also has staff located at offices in Scotland, Canada, Australia and the US.