After 40 years of trading Armstrong Priestley has been acquired in a Management Buyout. The company which designs and installs automatic fire sprinklers was founded in 1976 by Peter Armstrong who has reduced his shareholding to 5%. The remaining shares are divided between the Directors led by Financial Director Anne Marie Cable. The other Directors are Steve Brailey, Barry Ebbs, Terry Bennett and Karen Taylor.
Peter Armstrong said, “I believe the time is right to hand over control of the business and I am happy to stay involved as Chairman for at least the next five years. The Directors are a fantastic loyal team and we have created a family like business which I want to support into the future. This opens up an exciting new chapter for the company.”
The Armstrong Priestley head office and fabrication facility is at Seventy Seven Holbeck Lane, Leeds, LS11 9UL with sub offices based in the North East and Kent. Last year the company posted turnover in excess of £12m.
Peter Armstrong was advised throughout the transaction by Rachel Neems a Consultant with Clarion Solicitors, Leeds.