Conlon Group becomes an employee-owned business
Preston-based construction business Conlon has moved from family ownership to an Employee-Ownership Trust (EOT). This change in ownership follows months of planning by the Board of Directors and the Conlon family.
The construction company was established in 1961, when the ‘founding fathers’, the five Conlon brothers, were working on a road project called ‘The Preston Bypass’, which we all now know as the M6.
The five founding Conlon brothers
From these roots, the company, then known as ‘Conlon Brothers’, quickly developed a reputation in the construction business in Lancashire.
Conlon hopes that the EOT will carry through “the same culture, ethos, enthusiasm, enterprise, and determination” associated with its first 63 years. Clients and the supply chain will continue to liaise with the same colleagues, including all Directors and team members, comprising 72 directly employed staff members.
Chairman, Michael Conlon, explained: “What we’re doing is completely aligned with our company ethos. From the outset, our founders, those five young Conlon brothers, put people at the heart of the company. By implementing this transition now, the family believes it is the best outcome for the business and, most importantly, for all of our colleagues. The current Board of Directors will remain and will still have responsibility for running the business. The Directors will now be accountable to a Trustee Board, which will include two elected employee Trustees.
“We would like to sincerely thank all our colleagues, clients, and supply chain members for their contribution towards making Conlon the success story it has become. We look forward to their continued efforts, trust and support.”
The directors were advised by Kevin Steven at Pierce Corporate Finance, Blackburn, and Stephen Hadlow at law firm Brabners in Manchester.
