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Salford civils and building specialist Lowbury Construction has become employee-owned in a deal designed to safeguard its long-term future.<\/p>\n
The Cadishead-based contractor, founded in 1975 by the late Patrick Flynn, has transferred ownership to an employee ownership trust.<\/p>\n
The business, which has 24 staff, works nationwide on projects spanning utilities, energy, flood defence, education, and industrial buildings.<\/p>\n
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Managing director Peter Flynn, who continues to lead the firm, said the move was about protecting both clients and staff.<\/p>\n
He said: \u201cWe\u2019ve been working with most of our customers year on year, some of them for more than 40 years.<\/p>\n
\u201cIn exploring options for the future, our ambition was to ensure continuity and protect the interests of our clients and our people. Moving to employee ownership was the best way to achieve this.\u201d<\/p>\n
Lowbury\u2019s shareholders were advised on the EOT sale by MHA corporate finance and tax teams.<\/p>\n
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