36-year-old Fry has acquired a majority stake (70%) in the company for an undisclosed sum whilst current chairman John Baron retains 30%. Baron, 66, is staying on as chairman.
The company was previously wholly owned by Baron, who set up the business in 1983 in a spare bedroom at his home in Wilmslow.
Statiflo has 23 staff and annual revenues of more than £4m. It designs and sells static mixers and other chemical process equipment which is used in more than 80 countries worldwide.
The bulk of its revenue comes from the water and wastewater treatment industries and it also supplies the oil and gas, petrochemical, food, pharmaceutical, pulp and paper sectors.
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.”
A team at accountancy firm HURST including chief executive Tim Potter, partner Paul Brown and assistant manager Rachel Jackson advised on the deal. Legal advice was provided by Chris Dunn and Nicholas Emmerson at Gateley.
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