Adaptix appoints Willem Baralt as new Chairman

RNS Number : 8997P
Avingtrans PLC
15 February 2023
 

15 February 2023

Avingtrans Plc

 

("Avingtrans" or the "Group")

 

Adaptix appoints Willem Baralt as new Chairman

 

Avingtrans PLC (AIM: AVG) announces that further to the statement made on 14 December 2022, Adaptix, the Oxford based emerging MedTech Company, has appointed Willem Baralt as its new Chairman. Willem, previously of Quanta Dialysis Technologies, will succeed Steve McQuillan (CEO of Avingtrans), who was appointed to the Board of Adaptix in December 2022 in an interim capacity. Steve will continue as a Non-Executive Director of Adaptix.

 

In 2021, Avingtrans invested £4m in Adaptix, for an 11.9% stake in the business and in December 2022 announced a further investment of £2m by means of a Convertible Loan Note.

 

 

Enquiries:

 

Avingtrans plc

Roger McDowell, Chairman

Steve McQuillan, Chief Executive Officer

Stephen King, Chief Financial Officer

 

01354 692391

Singer Capital Markets (Nominated Adviser and Broker)

Shaun Dobson

Alex Bond

Oliver Platts

 

02074 963000

IFC Advisory (Financial PR)

Graham Herring

Tim Metcalfe

Zach Cohen

020 3934 6630

 

About Avingtrans plc: 

 

Avingtrans designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy, medical and industrial markets worldwide. 

 

Business units

 

Hayward Tyler - Luton & East Kilbride, UK and USA, China and India

 

Specialises in the design, manufacture and servicing of performance-critical motors and pumps for challenging environments.

 

Energy Steel, Inc - Rochester Hills, Michigan, USA

 

Energy Steel, part of the Engineered Pumps and Motors Division of Avingtrans plc, has been serving the nuclear power industry since 1982 with capabilities in equipment fabrication, material supply, precision machining, engineering, and repair services. Through strategic OEM partnerships, it also provides solutions for obsolete nuclear components and support for the most complex projects. 

 

Stainless Metalcraft Ltd - Chatteris, UK and Chengdu, China

 

Provider of safety-critical equipment for the energy, medical, science and research communities, worldwide, specialising in precision pressure and vacuum vessels and associated fabrications, sub-assemblies and systems.

 

Booth Industries - Bolton, UK

 

Designs, manufactures, installs and services doors and walls which can be tailored to be: blast &explosion proof; fireproof; acoustically shielded; high security/safety; or combinations of the above

 

Ormandy Group, Bradford, UK

 

Design, manufactures and servicing of off-site plant, heat exchangers and other HVAC (heating, ventilation and air conditioning) products

 

Composite Products Ltd - Buckingham, UK

 

Centre for composite technology, parts and assemblies, serving customers in industrial markets.

 

Magnetica Ltd - Brisbane, Australia

 

Magnetica Limited specialises in the development of next generation MRI technologies, including dedicated extremity MRI systems and MRI system components. Magnetica has successfully built and tested a compact, integrated 3 Tesla orthopaedic MRI system, demonstrating clinical-quality imaging. Commercialisation of this system (and others) is on-going. Magnetica's structure now includes two other business units:

 

Scientific Magnetics - Abingdon, UK

 

Designs and manufactures superconducting magnet systems and associated cryogenics for a variety of markets including MRI and provides services for Nuclear Magnetic Resonance instruments. 

 

Tecmag Inc, Houston, USA

 

Designs, manufactures and installs instrumentation, including consoles, system upgrades, and probes, mainly for Magnetic Resonance Imaging (MRI) and Nuclear Magnetic Resonance (NMR) systems.

 

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