Family passes ownership of construction firm to employees

Preston-based Conlon has moved from family ownership to an Employee-Ownership Trust.

The construction company was established in 1961 when five Conlon brothers were working on a road project called ‘The Preston Bypass’, now known as the M6.

Over more than six decades, Conlon has been awarded numerous industry accolades at national and regional level, and has grown to a team of 72 directly employed staff members.

The EOT will give the workforce a much greater stake in the company's future, though for customers it will be 'business as usual'.

Michael Conlon, chairman, said: “What we’re doing is completely aligned with our company ethos. From the outset, our founders, those five young Conlon brothers, put people at the heart of the company. By implementing this transition now, the family believes it is the best outcome for the business and, most importantly, for all of our colleagues.

"The current board of directors will remain and will still have responsibility for running the business. The directors will now be accountable to a Trustee Board, which will include two elected employee trustees."

Kevin Steven at Pierce Corporate Finance in Blackburn, and Stephen Hadlow at Brabners Law in Manchester provided help and advice during the transition process.