Ownership changes are being made at Gloucestershire precision engineering firm Renishaw, the company has announced.
The families of the firm's founders - the late Sir David McMurtry and current non-executive director John Deer - have created a joint family holding company, based in the North West, to consolidate their majority ownership.
Stockport's Deltam Holdings now holds 50.25% of the issued share capital of Renishaw, facilitating a generational transfer of the business within the families.
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According to Companies House, the directors of Deltham Holdings are John Deer, Philip Deer, Ben McMurtry and Richard McMurtry.
The new ownership structure replaces a previous voting arrangement announced in October this year. Under the new framework, representatives of the Deer family can require votes against special resolutions, while McMurtry family representatives can mandate votes in favour of ordinary resolutions.
Some family members will personally retain a combined 2.64% stake in Renishaw, separate to the Deltam arrangement.
It is also understood that trusts established to benefit the founder's children - Richard McMurtry, Ben McMurtry and Yvette Pridmore (the surviving daughter of Sir David) - own about 72% of Deltam, while representatives of Deer hold the remaining 28%.
Renishaw was established by Sir David and Mr Deer in 1973 and floated on the stock market a decade later.
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The Wotton-under-Edge-headquartered firm's first product, the touch-trigger probe, was invented by Sir David to solve a specific inspection requirement for the Olympus engines used in Concorde.
Sir David, who was knighted in 2001, died last year. The Irish-born businessman was named in the Sunday Times Rich List for 2024, with an estimated wealth of £1.25bn - up £128m from the year previously.
In September, Renishaw appointed a new group HR director following a rise in profits.
The business said in October that it had experienced a "steady start" to the new financial year amid continued global uncertainty.
"Despite the continued global uncertainty, the structural drivers that underpin our markets are presenting growth opportunities across our businesses and at this stage we are expecting to achieve further steady revenue growth in the year ahead," Renishaw said at the time.