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News » Plant » Blackwood Plant Hire changes hands » published 2 May 2017

Blackwood Plant Hire changes hands

The owner of Kilmarnock-based Blackwood Plant Hire has sold the business to the company’s management team.

Tom Blackwood bought Blackwood Plant Hire from his father, Tom Sr, in 2001 and has now has now sold it on for an undisclosed sum to a management team led by sales director Paul McCormack and plant manager Allan Wilson.

Mr Blackwood, 48, will act as chairman and retains a 10% stake in the business with his wife.

According to The Herald, he plans to concentrate on developing his growing Blackwood Decorative Aggregates business into a garden centre.

Under the ownership of Tom Blackwood Jr, Blackwood Plant Hire grew from two excavators to 320 excavators and more than 200 people, making a pre-tax profit of £1.7m on sales of £14.8m in 2015/16.

 

 

 

MPU

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This article was published on 2 May 2017 (last updated on 2 May 2017).

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