Henman finally free to fly solo at Zaun
A long-running shareholder’s dispute between the co-founders of Wolverhampton security fencing manufacturer Zaun has been resolved.
The company has bought back Paul Painter’s shares with support from Lloyds Banking Group.
Remaining co-founder Alastair Henman is now the sole ultimate shareholder of Perimeter Security Suppliers Association member Zaun, with Mr Painter no longer connected at all with the company, which is based in Steel Drive.
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, building a stronger team and laying the foundations for a sustainable and positive future.
In 2014 he bought a majority stake in software security expert EyeLynx, where founders Jay Patel and Francisco Feijoo still run the business.
The following spring, Mr Henman announced the purchase of 75 per cent of the shares in Hertfordshire business Binns Fencing, with Adam Binns, grandson of founder John Binns, similarly remaining as managing director and retaining his 25 per cent shareholding. The acquisition has given Zaun a strong presence in the prison sector.
The fourth member of the Zaun Group, Zaun Middle East, goes from strength to strength and recently announced its largest ever Middle Eastern contract with nearly 50 miles of fencing to be shipped in the coming year.
“I spent four years of my life delivering our largest ever contract for the London 2012 Olympics.
“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.
“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," explained Mr Henman.
Last year, Mr Henman made three internal promotions to join him on the board – Chris Plimley as sales and marketing director, Chris Rowen as operations director and Roberto Garziera as technical director.
“The political, economic, social and technological environments have changed beyond recognition since we launched the business, but we continue to invest in the belief we can produce innovative products our customers want.
“That’s kept us ahead of the curve and sees us now at the leanest, greenest and keenest point in our history, confidently ready to forge into the future. In 2017, Zaun expects to hit record consoconsolidated turnover and profit," he added.
