Member Article

Langtree Group sells part of group in MBO

Langtree Group, which has its head office in the North West, is to sell its public sector development partnerships in a management buy-out (MBO) led by group chief executive John Downes.

The new business will be called Langtree Property Partners and will own a range of existing public sector development partnerships.

Assets within in the MBO include Sci-Tech Daresbury, a joint venture with Halton Borough Council and the Science and Technology Facilities Council; Parkside Regeneration, a joint venture with St Helens Council; Wire Regeneration, a joint venture with Warrington Council; and Hollinwood, a development agreement with Oldham Council.

Langtree Group chairman Bill Ainscough said: “In the 18 years that John has led Langtree it has blossomed into a group with a 3m sq ft investment portfolio, most of which he has overseen the development of, and an enviable land bank of more than 2,000 acres.”

“I would like to thank John for his years of dedicated service to the Langtree Group. We wish him and his management team every success in the new venture.”

John Downes said: “I have thoroughly enjoyed my time with Langtree and working for Bill and seeing the company develop over the years.

“This deal now gives me a real stake in the new business and a sound platform from which to develop in the areas that I enjoy and where I can hopefully grow and add value.”

This was posted in Bdaily's Members' News section by Sophia Taha .