Institution announces the sale of IMechE Argyll Ruane

The Institution of Mechanical Engineers (IMechE) has recently completed the sale of IMechE Argyll Ruane—provider of training, examinations and consultancy services for the non-destructive testing and coatings sectors—through a management buyout led by Bryan Ravenshear, IMechE Argyll Ruane’s General Manager.

The company will reinstate its former name, Argyll Ruane Limited, which it used from 1998 to 2016.

As the Institution embraced a revised strategic direction, an extensive review was conducted of the enterprises within Professional Engineering Projects Limited, the Institution’s commercial arm. The goal was to ensure that these enterprises align with the Institution’s updated vision and strategic objectives and to assess whether the current ownership is conducive to fostering continued growth and success.

The review concluded that, through having greater autonomy and adopting a more commercially focused ownership, IMechE Argyll Ruane would be able to better leverage its strong market position and many opportunities available.

Dr Alice Bunn, CEO of the Institution, commented:

“We are pleased to have agreed a management buyout of IMechE Argyll Ruane. The company is a highly regarded business, and I am confident that under the leadership of Bryan Ravenshear and his team, IMechE Argyll Ruane will continue to grow strongly and take advantage of the commercial opportunities available.”

Bryan Ravenshear, Managing Director of Argyll Ruane Limited, added:

“This buyout marks an exciting new chapter for Argyll Ruane Limited. We are eager to build on our successes and drive further growth and innovation in the industry.”

The review also included Sonaspection—manufacturer of flawed specimens for the non-destructive testing industry—and found similar outcomes.