Adaptix secures 510(k) clearance from FDA

Adaptix secures 510(k) clearance from FDA We are pleased to announce that medical imaging technology associate company Adaptix Limited (Adaptix) has received 510(k) clearance from the U.S. Food and Drug Administration for its first orthopaedic medical imaging product. In 2021, Avingtrans invested £4m in Adaptix, for an 11.9% stake in the business and in December…

Additional Investment in Magnetica

Additional Investment in Magnetica We are pleased to announce that shareholders of Magnetica have approved an increase to Avingtrans’ ownership as part of a capital raising. The Board of Magnetica has made the following announcement: Following an Extraordinary General Meeting of the shareholders of Magnetica on 16 January 2023, a resolution in relation to the capital…

Ormandy completes double acquisition

Ormandy completes double acquisition Our subsidiary, Ormandy Rycroft Engineering has completed the acquisition of Heating Ventilation and Air Conditioning (HVAC) solutions provider HRS Hevac Ltd (Hevac) and plates and gaskets supplier HeatExchangerSpares.com (HES) from Canadian heat exchanger manufacturer Exchanger Industries Ltd (EIL).   HES’s site in Watford (UK) will continue operations while employees from its…

Steve McQuillan appointed as Chairman of Adaptix

Steve McQuillan appointed as Chairman of Adaptix Avingtrans CEO, Steve McQuillan, has been appointed as the non-executive Chairman of emerging MedTech business, Adaptix, based in Oxford, UK. In parallel, Avingtrans is investing a further £2m in Adaptix, by means of a Convertible Loan Note. In 2021, Avingtrans invested £4m in Adaptix, for an 11.9% stake…

Bolton’s Booth Industries celebrates double award win

Bolton’s Booth Industries celebrates double award win We are pleased to announce, our subsidiary, Booth Industries, has won the SME of the Year and Business Growth awards at this year’s Make UK Manufacturing Regional Awards. The Make UK Manufacturing Awards celebrate British manufacturing excellence and recognise outstanding people from the industry who have delivered innovative…

Adaptix Submits US Regulatory Clearance for Transformational Diagnostic Product

Adaptix Submits US Regulatory Clearance for Transformational Diagnostic Product Our partner company, Adaptix has submitted a 510(k) application to the U.S. Food and Drug Administration for its first medical imaging product (‘NeXt 3D-Ortho’), allowing the company to begin marketing its Point-of-Care 3D orthopedic system in the United States. Adaptix, based at Oxford University Science Park,…

Energy Steel secures nuclear contract worth $4.1m

Energy Steel Secures Nuclear Contract worth $4.1m Our subsidiary, Energy Steel has been awarded a $4.1M contract from Nuclear Waste Partnership, LLC to supply materials and subassemblies required for their waste isolation pilot plant (WIPP) – the nation’s only deep geological long-lived radioactive waste repository. The materials and subassemblies will be used in the construction…