Bouygues UK has sold civil engineering contractor Fitzgerald to its management a year after acquiring the firm
The construction giant acquired Birmingham-based Fitzgerald last year when it bought Thomas Vale Group, which owned the civil engineering business.
Bouygues said the £24m-turnover business, which employs around 100 people, did not fit with its strategy to focus on building work.
Nick Coley, Fitzgerald managing director, led the management buy-out.
He said: “I am delighted to have completed the acquisition of the company and am confident that as an independent company we will be able to offer an even greater top-down commitment and focus to our clients.
“It will also present us with many opportunities to deliver business growth and enhance client care and project delivery.
“It is a great achievement to be celebrating our 65th anniversary and the acquisition will present a new chapter in our history.”
Madani Sow, chairman of Bouygues UK, said: “The Fitzgerald management team has developed the business into a strong player, with a proven track record in its sector.
“I am very pleased that we have been able to divest the business to Nick and I wish him every success for the future”
Fitzgerald was founded in Birmingham in 1948.