Shareholders dispute at Zaun finally resolved with company’s co-founder Alastair Henman now free to fly solo
The long-running shareholders dispute between the co-founders of perimeter security systems manufacturer Zaun has been resolved. The business has bought back Paul Painter’s shares with support from the Lloyds Banking Group. Remaining co-founder Alastair Henman is now the sole ultimate shareholder of Zaun. Painter is no longer connected with the Midlands-based company.
Speaking about the news, Henman (pictured) informed The Paper: “The dispute has been a huge distraction over the last few years. I now look forward to re-focusing my efforts on the massively exciting future we’re building here at Zaun.”
Since Painter ceased to have any executive role at the company back in 2014, Henman has been ringing the changes, building a strong team and laying the foundations for a sustainable and positive future.
Henman acquired a majority stake in software security expert EyeLynx, where founders Jay Patel and Francisco Feijoo still run the business. Henman then announced the purchase of 75% of the shares in Binns Fencing, with Adam Binns (grandson of company founder John Binns) similarly remaining as managing director and retaining his 25% shareholding. The Binns Fencing acquisition has afforded Zaun a strong presence in the prisons sector.