Brian and Alan Stannah, the men behind the industry’s largest stairlift manufacturer, have been jointly ranked as having the 760th largest fortune in the UK.
The pair are worth £155m according to The Sunday Times Rich List, which was published yesterday.
In 2018 the brothers were £16m better off and ranked 64 places higher than this year.
Profits in 2017 slid by 50% to £5.8m at the £130m manufacturing operation.
The brothers’ profile reads: “Brothers Brian, 83, and Alan, 79, run the Andover-based stairlift manufacturer Stannah, which has installed more than 600,000 devices since the first model was produced in 1975.”
The Sunday Times bases its Rich List on ‘identifiable wealth’, which includes land, property, publicly-quoted shares and other assets, but not bank accounts that they do not have access to.
Brian and Alan Stannah both won MBEs in 2017 in recognition of their services to British manufacturing.
The brothers have worked together for 54 years and transformed the company into a household name after turbulent business in the 1960s.
Brian and Alan Stannah were behind Stannah’s stairlift and also developed the Maxilift range of passenger lifts which have since become a core part of the business.
Stannah now operates in 40 countries worldwide and employs almost 2,000 people, having generated around £3.5bn of turnover under the brothers’ stewardship.
Image: Chairmen Brian and Alan Stannah. Image credit: Stannah Lifts