Firm cuts ties with contracting roots after 140 years

Henry Boot has confirmed that it sold its construction business to its management at the end of last year.

In an update to the Stock Exchange this morning, the firm said it had sold the £50m turnover construction business to PWS Construction on 31 December.

PWS has been formed by the construction business’s existing management team which includes managing director Lee Powell, finance director James Smith and commercial director Chris Weathers.

henry boot

Henry Boot’s construction business has been bought by its existing management

Announcing its decision to sell last September, Boot said the management was paying £4m for the company whose roots stretch back nearly 140 years.

The deal is being funded by a £4m loan from Henry Boot which will run for five years.

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