The new management team is now looking to grow the £15m turnover company with a £20m revenue target by 2025 when it will celebrate 100 years in business.

The firm has offices in Huntingdon, Durham and Dartford and employs 73 staff.

The new shareholders, James Tuohy – Managing Director, Andy Downing – Group Operations Director and Dave Miller – Northern Operations Director will be working with the retiring directors to allow a smooth transition and continuation of services to clients.

Tuohy said: “I am delighted and honoured to be able to continue the long-standing success of Playfords and thank our outgoing directors for their valuable service throughout their tenure.

“The MBO has ensured a seamless transition of control for the business and represents an exciting opportunity for the team to implement our vision and exciting future plans for the business.

“Alongside my fellow directors we remain committed to continuing with our current business strategy, the plan that has been created for the MBO has identified a number of opportunities and developments for us to explore in the near future”

“As with any important business change, we will continue to work closely with our customers and suppliers whilst guaranteeing that our high standards and service levels remain in place to meet expectation”