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Tamdown MBO lays groundwork

Finance

GROUNDWORKING and civilengineering contractor Tamdown has been bought out by a management team for an undisclosed sum.

The MBO team, which is ledby former commercial director Michael Morris, secured the deal in the face of stiff competition from potential trade buyers.

Tamdown employs more than 300 staff and its work is split evenly between greenfield and browfield sites. Clients include Countryside Properties, Alfred McAlpine Homes, Taywood Homes and Redrow Homes.

The management team includes Keith Breen as construction director, Gordon Saunders assurveying director, Peter Kane as finance director and David Holliday as non-executive chairman.

Benson Group, the Reigate-based contractor which was bought by a management team in 1998, is looking to open a new southern division, based in Southampton. Managing director Alistair Sloan said few of the acquisition options for the firm, which has a turnover of £38 million, had proved viable.

Benson has interiors work in Bournemouth and leisure and police contracts in the region.