Infrastructure plant and equipment provider Quattro Group has confirmed the sale of its Scottish-based subsidiary AB2K in a management buyout, writes Peter Brown.
This move enables both businesses to specialise in their respective core industries.
John Murphy, MD of Quattro Group, said: “AB2K has been a valued part of the Quattro Group for the past six years.
“However, as our core focus on rail plant has increasingly diverged from AB2K’s construction plant operations, we recognised that it was the right time to part ways.
“In a mutually beneficial agreement, we have completed the management buyout by Stuart Gardner and Mark Kirkwood, who will take the reins as joint managing directors in Scotland.
“We wish Stuart and Mark every success as they return to their construction roots and break new ground with an independent company. We’re confident this move unlocks greater value for both businesses.”
A joint statement from both Stuart and Mark said: “We’ve greatly appreciated our time within the Quattro Group and everything we’ve learned along the way.
“We’d like to sincerely thank John Murphy for his trust in us. He could have sold AB2K to anyone, but he chose to back us.
“We’re excited for the road ahead and to lead AB2K into an independent future, with a strong leadership team and a new vision, focused solely on construction plant hire.”
The transition is effective immediately.
