The founding families of FTSE-listed engineering firm Renishaw have taken a decisive step to secure the long-term future of the business, announcing a significant restructuring of their ownership stake.
A New Chapter for Family Ownership
The families of the company's founders – the late Sir David McMurtry and current non-executive director John Deer – have established a joint family holding company. This new entity, named Deltam Holdings and based in Stockport in the North West, has been created to consolidate their majority shareholding. It now holds 50.25% of the issued share capital of Renishaw, effectively facilitating a generational transfer within the families.
This move replaces a previous voting arrangement that was only announced in October 2025. According to filings at Companies House, the directors of Deltam Holdings are John Deer, Philip Deer, Ben McMurtry, and Richard McMurtry.
Structure and Control of the New Entity
The new framework introduces specific voting rights for each family. Under the agreed terms, representatives of the Deer family retain the power to require votes against special resolutions. Conversely, representatives of the McMurtry family can mandate votes in favour of ordinary resolutions.
It is understood that trusts set up for the benefit of Sir David McMurtry's children – Richard McMurtry, Ben McMurtry, and Yvette Pridmore – own approximately 72% of Deltam Holdings. Representatives of the Deer family hold the remaining 28%. Separately from the Deltam arrangement, some family members will personally retain a combined 2.64% direct stake in Renishaw.
Founding Legacy and Current Performance
Renishaw was established in Wotton-under-Edge, Gloucestershire, in 1973 by Sir David McMurtry and John Deer. The company was floated on the stock market a decade later. Its pioneering first product, the touch-trigger probe, was invented by Sir David to solve an inspection challenge for the Olympus engines used in the Concorde aircraft.
Sir David, who was knighted in 2001, passed away in 2024. The Irish-born businessman was listed in the Sunday Times Rich List for that year with an estimated wealth of £1.25 billion.
The ownership news follows a period of steady performance for the precision engineering firm. In September 2025, Renishaw appointed a new group HR director following a rise in profits. The company stated in October that it had experienced a "steady start" to its new financial year despite global uncertainty, expressing confidence in achieving further steady revenue growth.
This restructuring clearly signals the founding families' enduring commitment to the business they started over five decades ago, ensuring its strategic direction remains firmly in family hands for the foreseeable future.
