Balmoral Group offered its shareholding in ACE Winches to a business led by ACE’s creator as well as previous chief executive officer Alfie Cheyne.
As component of Balmoral’s share acquisitions in 2017 as well as 2019 the Cheyne household had a choice to redeem Balmoral Group’s financial investment as well as the bargain validated today remains in line with this contract. Jim Milne, Chairman as well as Managing Director of Balmoral Group claimed: “We have enjoyed working with the management and staff of ACE Winches and wish them all the best for the future.”
Cheyne claimed, “Balmoral has been incredibly supportive to ACE Winches over the last few years and has positioned the business well for continued growth. “I look forward to an exciting new chapter ahead in the development of the business.”
