Montpellier considers proposed management buyout of successful social housing arm.
Montpellier is considering the management buyout of its social housing arm Bullock Construction.
The proposed MBO proposal is being led by Bullock’s managing director John Gaffney.
Montpellier said it was considering the proposal, which is at the preliminary phase and may or may not lead to an offer being made for Bullock.
Last year Montpellier made a pre-tax loss of £6.9m. After a review the company said it would focus on three areas: social housing, brownfield remediation and Building in Partnership.
Bullock is currently Montpellier’s only business in the social housing arena. It operates chiefly in the Midlands and the North and last year had a turnover of £80m.