The co-founder of engineering giant Renishaw has died at the age of 84. Sir David McMurtry established the Gloucestershire company with John Deer in 1973 and it floated on the stock market 10 years later.
The firm’s first product, the touch-trigger probe, was invented by Sir David to solve a specific inspection requirement for the Olympus engines used in Concorde.
Sir David, who was knighted in 2001, stepped down as executive chairman earlier this year, but remained on the board as a non-executive director. His son, Richard McMurtry, was also appointed to the board.
In an announcement to the stock market on Monday (December 9), Renishaw said it was “with profound sadness” the company had learnt of his sudden death.
Sir David Grant, interim non-executive chairman, said: “David was a uniquely talented engineer and his curiosity and drive helped to create a globally respected engineering company. His legacy will live on through the culture of innovation he helped to create in Renishaw. The board’s deepest sympathies are with David’s wife and family.”
The Irish-born businessman was named in the Sunday Times Rich List for 2024, with an estimated wealth of £1.25bn – up £128m from the year previously.
Renishaw posted profit before tax of £34m for the three months ended September 30 – up 22% from the £28m the year previously. Meanwhile revenue was £173.9m, representing a 6% increase compared to the corresponding period in 2023.
The board said at the time it was pursuing a “range” of growth opportunities and anticipated “solid overall revenue growth” over the coming year.
It added: “We also remain focused on the careful management of costs and delivery of productivity improvements, which together will help drive progress towards our margin objectives.”
Sir David is survived by his wife and three children.