Montpellier, which is listed on the alternative investment market, disclosed last week that Feast had entered talks to acquire four of the company's 12 construction businesses.
He is believed to have established the details of the deal with Montpellier in the past month, and has resigned from its board to complete negotiations.
The buyout will cost between £1-10m and involves no other senior players at Montpellier.
A source close to the deal said that the four construction businesses, the names of which have not yet been released, would perform better after going private. The source said: "It is fair to say that some of these smaller businesses are better going into a smaller setting."
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