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Strat Aero takes control of monitoring firm GyroMetric

The deal with Braveheart Investments gives it almost 58% of the company
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Strat Aero uses drones to survey and inspect equipment such as wind turbines

Strat Aero PLC (LON:AERO) and Braveheart Investment Group (LON:BRH) have brokered a deal that will see the former take control GyroMetric Systems Limited.

GyroMetric has technology that digitally assesses rotating shafts and, for Strat Aero, the deal is part of its strategy to move into areas that revolutionise monitoring and inspection.

READ: Strat Aero flies higher on two new contract wins for Geocurve subsidiary

The nuts and bolts of the transaction are as follows: Strat Aero is acquiring 228,000 GyroMetric shares for £273,600 in a purchase funded by the issue of the new paper.

This will take its holding in GyroMetric to 57.8% from 36.9%.

Braveheart will be left with 19.9% of GyroMetric and a 7.2% stake in Strat Aero.

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