The two trading entities, through which all Timestrip business is conducted, have been sold by Timestrip Plc to Pirtsemit Limited, a private equity backed special purpose company. Pirtsemit Limited has retained the existing management to continue to run the business, which will continue to be conducted through Timestrip UK Limited and Timestrip Technical Services Limited.

Timestrip produces a wide range of labels to automatically monitor elapsed time in a variety of conditions, from ambient environments to fridge, freezer and extremely high temperatures. The technology can be integrated into products or packaging, as well as the applied label format and is in use across a diverse range of industries. Timestrip was a double winner at the 2009 UK Packaging Awards, taking the prizes for Labelling and Innovation of the Year.