Tag: hesco bastion

British multi-millionaire buys Segway

A British multi-millionaire from Leeds has bought motion company Segway for an undisclosed amount.

The story was revealed by US site TG Daily, which quotes a source close to the company as saying that he expected it would start outsourcing manufacturing of its components to another country – but not the UK.

Segway responded to a TG Daily’s reporter’s request for information by pointing to an internal blog. That said the deal occurred on Christmas Eve, when it was sold to businessman Jimmy Heselden, the chairman of Hesco Bastion. He already owned a share in a Segway UK distributorship.

Segway also received additional funding from Hesco Bastion. Heselden’s wealth is considered to be over £200 million.

The TG Daily story is here.