James Heal bought by venture capital firm after 68 years in Repper family

Precision engineering company James Heal, which traces its roots back to 1872, has been sold to a venture capital and private equity partnership after 68 years under the same family ownership
By The Newsroom
Published 29th Sep 2014, 07:00 BST

The Halifax-based firm, which has a £10m turnover and employs 100 people, was sold to Battery Ventures for an undisclosed sum.

The firm, which was founded in 1872 by George James Henry, provides testing solutions to a number of industries including textiles all over the world.

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It was bought by engineer Harry Repper in 1946 and his son, David, took over at the helm in 1982.

Amanda McLaren, the company’s manufacturing director, will take over the role of managing director from Mr Repper following the acquisition.

Mr Repper will continue to be involved as a consultant to James Heal on a part-time basis to assist with product development, customer relations and operations, and also to help to ensure a smooth transition period.

The rest of the board of directors will continue to lead the company under the new ownership.

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Boston-based Battery Ventures is an investment firm focused on technology and innovation worldwide with $4.7bn in assets under management.

The company said it was attracted to James Heal because of its strong financial position. It reported a £739,466 pre-tax profit last year.

As part of the deal, Battery executive-in-residence Don Templeman will join James Heal as chairman and director.

Pannone Corporate advised the shareholders of James Heal on the transaction.

Related topics:HalifaxBoston