Sussex-based Kittiwake Developments has acquired a further 55 per cent stake in Krystallon from BP International.
Sussex-based Kittiwake Developments has acquired a further 55 per cent stake in Krystallon from BP International. Kittiwake already owned a 45 per cent interest, and the deal brings Krystallon under the sole ownership of Kittiwake.
Kittiwake supplies test equipment for condition monitoring of heavy-based machinery.
Through its minority stake in Krystallon, Kittiwake has helped to develop international rules and regulations that support the use of its technology for emissions compliance.
Steve Kirkham, managing partner of Spofforth LLP, and Stuart Maggs, tax partner, provided financial and specialist tax advice.
Maggs said: “This represents an important step forward for the company, and with new EC environmental legislation in the pipeline, the prospects for the future look extremely promising. “We assisted the client throughout the process, advising on complex practical, financial and tax issues.” n