Patsy Byrne co-founded the Byrne Group of companies with his brother Johnny in 1969, which grew into one of the UK’s top 50 contractors, turning over nearly £270m last year.
Group managing director Tony Dowle said: "All the members of staff send their deepest heartfelt condolences to every one of the Byrne family at this most difficult time.
"Patsy was an immense character who touched the hearts and minds of everyone he came into contact with. He built the Byrne Group of companies into one of the most robust and respected businesses in its specialist fields in UK construction. He will be very sadly missed.
"Continuity measures have been put in place to ensure the continued and successful operation of the Byrne Group businesses."