RENISHAW founders Sir David McMurtry and John Deer have announced they will sell their 53 percent holding in the company.
Renishaw, which was established in 1973, employs more than 2,500 people in the UK and has its headquarters at New Mills near Wotton-under-Edge as well as sites at Woodchester and Stonehouse.
Sir David, the company’s chairman, and John Deer, deputy chairman, plan to sell their stakes in the FTSE 250 business. They hold 36.2pc and 16.6pc of the shares respectively, worth about £2.6bn.
Renishaw said the sale process, which will be run by UBS, has yet to begin talks with potential buyers.
Specialising in precision measuring equipment and healthcare technology, Renishaw has 79 offices in 37 countries.