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Jackson sells for growth

BOSSES at Wigan-based building maintenance firm Jackson Lloyd have sold a controlling stake in the company for £15 million in a bid to double its turnover over the next five years.

Manchester-based private equity firm Gresham bought 60 per cent of the firm, which values the company at around £26 million.

Chief executive Bill Lloyd and directors David and Dennis Cleary will continue to run the company. A new chairman, Tony Rieger, has been appointed as a result of the deal, as well as a new finance director, Steve Yarwood.

Jackson Lloyd, which turned over £24 million in the year ended April 2005, employs around 300 people and has offices in Wigan, Salford and Skelmersdale.