Big fish takes a slice of laser measuring company

Measurement Devices Ltd (MDL) is now able to fund its expansion in the eye-safe laser measurement technology sector after Renishaw took a 29 per cent stake in the York firm.

Renishaw, based in Gloucestershire, is a global metrology and healthcare products manufacturer, which has its own measurement products range. An agreement means the remaining shares in MDL could also be sold over the next four years.

MDL, which was set up in 1983, also has a marine centre in Aberdeen and a base in Houston, Texas.

It makes laser-based measurement systems which are used worldwide in quarrying, mining, marine positioning, aviation, civil engineering and traffic control.

The firm, which has 50 staff including 40 in York, said no changes in staff are anticipated. Founder Steve Ball, the Houston-based president, and Elaine Ball, managing director in the UK, will stay in their posts. Mr Ball is also group chairman.

He said: "The similarities between MDL and Renishaw are amazing. The main difference being that Renishaw measures small things and we measure large things. With Renishaw's support and investment, MDL will accelerate its drive to become a world-class company benefiting all our stakeholders and customers."

Renishaw is a plc with 1,358 staff in the UK and 741 overseas. The company, which has a 181.6m turnover, was founded in 1979 by chairman and chief executive, Sir David McMurtry and deputy chairman, John Deer.

Its core skills are in measurement, motion control, precision machining, spectroscopy and medical devices with products that help manufacturers improve efficiency and the quality of their products.

Ben Taylor, Renishaw assistant chief executive, said: "We have many reasons to be interested in such a high-quality business as MDL – one being that its laser systems complement Renishaw's own metrology products and have potential to be integrated with them.

"MDL will retain its independent distribution network although, where there are gaps, they may benefit by support from our own global subsidiary network."