Black Country businessman wrestles back control of his firm as long-running dispute is resolved
A Black Country businessman has wrestled back control of his company following the conclusion of a long-running dispute with the co-founder of the firm.
Alastair Henman, co-founder of Wolverhampton-based fencing manufacturer Zaun, is now sole shareholder of the business after Lloyds Bank supported him in the acquisition of shares belonging to fellow co-founder, Paul Painter.
The resolution of the dispute sees Mr Painter exit the business.
Mr Henman said: “The dispute has been a huge distraction over the last few years and I look forward to re-focusing my efforts on the massively exciting future we are building at Zaun.”
Since Mr Painter ceased to have any executive role in 2014, Mr Henman has been ringing the changes at the firm, building a stronger team and laying the foundations for a sustainable and positive future.
This saw him acquire a majority stake in software security expert EyeLynx, where founders Jay Patel and Francisco Feijoo still run the business.
He followed this by purchasing 75% of the shares in Binns Fencing, with Adam Binns, grandson of founder John Binns, remaining as managing director and retaining his 25% shareholding. The acquisition gave Zaun a strong presence in the prison sector.
The fourth member of the Zaun Group, Zaun Middle East, recently announced its largest ever contract to supply 80km of fencing to a strategically important site in the region. The fencing will be shopped in phases over the course of this year.
The company made its reputation by supplying fencing for the 2012 Olympic Games in London, a contract that created a raft of new opportunities for the business.
“That was a fantastic time for us, it opened so many doors and opportunities, and insulated us against the credit crunch, recession and early years of austerity,” said Mr Henman.
“The challenge has been to turn those opportunities, which arose from the one-off lumpy project, into long term sustainable business. That has been achieved only on the back of innovation, bold investment and strengthening relationships with core contractor customers to ensure the steady flow of orders that kept the factory permanently busy.”
