Cabinet specialist SPG has undergone a management buyout, with the current operational team, Tony David, Steve Leach, Harry Rees and Gary Smith becoming the new owners.
Existing md and major shareholder Gary Edwards will remain as a non-executive chairman.
Sales director Steve Leach said ‘This management team have been historically running the day to day business matters for many years and hence are in a strong position to take the company forward. Gary Edwards will be able to give the team the benefit of his vast experience during and beyond the company transition.”
He added: “It may be considered a strange economic climate to be undertaking this move, but we feel confident about the future of the retail sector within this country, and even more confident about the future growth of the customers we are partnering with.”