William Senior (right), of Watersheds, congratulates Malcolm Priest on Greswolde Construction
Corporate finance specialists in Northampton have sealed a deal to bring two new directors on board at a construction company in the Midlands.
Construction engineer Perry Stewart and chartered accountant Shaun Walsh have invested in Greswolde Construction, with ownership now shared between them and Malcolm Priest, who had owned the business since 1995.
The deal was led and executed by specialists at Northampton corporate financier Watersheds. The company, based in Solihull, specialises in the education, healthcare, housing, commercial and industrial sectors.
Messrs Stewart and Walsh are building a group of construction-related companies under the IBG Group banner. This is their third investment.
Mr Priest said: “I want to see the business thrive. However as we are waking up to face a new normal, I think it is the right time for me to step down and hand over some of my responsibilities to a highly experienced team who can meet those challenges so that Greswolde Construction has a strong and resilient future.”
William Senior of Watersheds, who led on the transaction for Greswolde, said: “We knew we had found two people who understood the true potential of the business and who also had the industry-related experience to help achieve sustainable growth.”