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Strat Aero completes acquisition of controlling stake in GyroMetric

The AIM-listed services provider for unmanned aerial vehicles (UAV) said the transaction would take its stake in GyroMetric to 57.8% from 36.9%
UAV Drone
GyroMetric has technology that digitally assesses rotating shafts for safety and reliability

Strat Aero PLC (LON:AERO) has received shareholder approval to complete its acquisition of the controlling stake in GyroMetric from Braveheart Investment Group PLC.

The AIM-listed services provider for unmanned aerial vehicles (UAV) said the transaction, originally announced on 21 August, would take its stake in GyroMetric to 57.8% from 36.9% through the purchase of 228,000 shares for £273,600.

READ: Strat Aero takes control of monitoring​​ firm GyroMetric

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.

Braveheart will still maintain a 19.9% stake in GyroMetric as a result of the transaction, while also holding a 7.2% stake in Strat Aero.

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