The company was founded by Sir David McMurtry and John Deer in 1973.[2] McMurtry had needed to measure fuel pipes on a prototype jet engine: at the time, coordinate-measuring machine sensors featured rigid styli, which required manual positioning on the surface and which yielded poor repeatability when measuring delicate components. To meet this need, McMurtry invented a touch-trigger probe device, which he then patented. The probe featured an elegant 'kinematic' location for a spring-loaded stylus, providing a highly repeatable seated position for the stylus combined with the compliance needed to measure such components.[2]
Renishaw floated on the Unlisted Securities Market in 1983,[3] and gained a full listing on the London Stock Exchange in November 1984.[4] In 2006 the Company bought 'itp', a German manufacturer of precision styli.[5] In early 2009 the global recession reached Renishaw, resulting in a large proportion of the workforce being placed "at risk".[6]
In 2010 Renishaw bought a stake (and subsequently took complete control) of Measuring Devices Ltd, a company providing a range of services in the field of surveying equipment.[7] In 2011 Renishaw purchased the 400,000 sq ft Bosch plant in Miskin, Wales.[8]
On 2 March 2021, David McMurtry and John Deer indicated that they wished to dispose of their entire holdings in Renishaw, comprising some 53% of the shares, as 'we recognise that neither of us is getting any younger'. The Renishaw board then announced that it was launching a formal sale process for the entire company.[11] This process was terminated on 7 July 2021, the board concluding that none of the proposals met their objectives.[12]
