SOLIHULL-based Greswolde Construction has strengthened its senior team with two new directors.
The firm, which specialises in the education, healthcare, housing, commercial and industrial sectors and has an annual turnover of around £20m, sees construction engineer Perry Stewart and chartered accountant Shaun Walsh investing in the business, with ownership now shared between them and Malcolm Priest.
Construction director Chris Harrison continues in that role.
Despite the challenges of stringent restrictions associated with the pandemic, corporate finance specialists Watersheds, who acted for Malcolm Priest, negotiated the deal during the lockdown period.
Malcolm purchased Greswolde Construction Ltd in 1995, but felt the business should be less dependent on him and that the time was right to build a larger, stronger senior team.
Perry Stewart is an engineer with 40 years’ experience in construction, including 13 as CEO of Immediate Property solutions and six years as MD of The House group, based in Gibraltar.
Prior to that he was project manager for Skanska’s construction and marine projects in Scandinavia, Denmark and Northern Germany in collaboration with Veidekke.
Shaun Walsh spent his early career at PWC, and has subsequently held the role of finance director in a variety of small and medium sized companies across a number of different industries.
Perry and Shaun are building a group of construction-related companies which are mutually supportive as the IBG Group. This is their third investment.
Malcolm said: “I want to see the business thrive.
“The pandemic has been very challenging for the construction industry, however as we are waking up to face a new normal, I think it is the right time for me to step down and hand over some of my responsibilities to a highly experienced team who can meet those challenges so that Greswolde Construction has a strong and resilient future.”
