The move sees the Baggaley family step away from the management of the £50m turnover company.

The family has agreed a sale which sees them retain a reduced stake and broaden the ownership to the directors and all employees.

The board of directors will comprise Stewart Tilley (Chairman), Phil Askin (Managing),  Mark Illingworth (Finance), Mark Greasby (Construction) and Antony Dearden (Non-Executive).

Askin said: “As a step towards the cultural development of the company, the Baggaley family has agreed to broaden the company’s ownership by enabling the directors and employees to purchase shares either directly or via the Share Incentive Plan.

“Without doubt, this is a bold and radical step for the Baggaley family and the company to be taking but it is one that should enable the business to develop within a culture of ownership, involvement and commitment for the mutual benefit of all stakeholders.

“The board recognises the significant contribution that our employees’ loyalty and dedication bring to the company and was keen to incentivise them and gain their long-term commitment.

“The leadership and composition of operational teams remain unaffected and we are confident that an inclusive approach will benefit delivery performance and enhance a fantastic reputation that has been built over many years.

“The company continues to perform well on projects that have commenced this year and volumes secured through frameworks, negotiated and repeat business is well beyond our expectations.”