Salford civils and constructing specialist Lowbury Development has grow to be employee-owned in a deal designed to safeguard its long-term future.
The Cadishead-based contractor, based in 1975 by the late Patrick Flynn, has transferred possession to an worker possession belief.
The enterprise, which has 24 workers, works nationwide on tasks spanning utilities, vitality, flood defence, schooling, and industrial buildings.
Managing director Peter Flynn, who continues to steer the agency, stated the transfer was about defending each purchasers and workers.
He stated: “We’ve been working with most of our prospects 12 months on 12 months, a few of them for greater than 40 years.
“In exploring choices for the longer term, our ambition was to make sure continuity and shield the pursuits of our purchasers and our individuals. Shifting to worker possession was the easiest way to attain this.”
Lowbury’s shareholders had been suggested on the EOT sale by MHA company finance and tax groups.
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