Paul Thompson buys out Pugh & Co

PAUL Thompson has taken control of North West auction house Pugh & Co after buying his partner Stephen Swainson’s 50% stake.

Mr Thompson originally bought into the business in 2008 and is now the managing director of the Newton-le-Willows firm.

He has been joined by directors James Ashworth and Kate Lay on the management team.

He said: “Through the support of our valued customers we have built the company into one of the most prestigious and highly respected property auction houses. Auctions continue to play an important and ever increasing role in the sale and acquisition of property so I’m delighted to welcome this new phase for the company.”

Mr Swainson has stepped down after 20 years. He said: “Over my many years of service with Pugh & Co I’ve been privileged to work with a full spectrum of corporate and private clients and be involved in excess of 250 Pugh & Co auctions during a period of great success for the company.

“My decision to step down from the role of director will enable me to pursue new challenges and also dedicate more time to my family. My co-director, Paul Thompson, is one of the country’s leading auctioneers and will lead the company into an exciting period of sustained growth.”