Building on the existing close relationship between the two companies, TecExec has increased its shareholding in Maelstrom in a debt for equity swap, agreed with the Maelstrom shareholders in May 2019. The effect has been to improve Maelstrom's balance sheet whilst also simplifying the tax position of the group.
Peter Brown, who has a directorship role in both companies, stated "this move recognises the contribution made by TecExec over the years towards Maelstrom's continuing development and ensures that the two companies remain closely aligned in terms of exploring new technical and business opportunities for the benefit of all shareholders."
