Building services provider J S Wright has been bought out by its senior management team.
The Birmingham-based mechanical and electrical specialist, which was founded in 1890, is now owned by the team of five executive directors who have run the business for the past ten years.
The buy-out of J S Wright, which is projected to become a £50m business this year, follows the retirement of previous owners and main board directors Peter Marsh, Edwin Moore and David Osborne, who stepped down from the day-to-day running of the company in 2006.
J S Wright specialises in the design and installation of mechanical and electrical (M&E) services for the hotel, residential, social housing, student accommodation, leisure and commercial sectors.
With more than 150 directly employed staff and further offices in Bristol and London, the company has a projected record turnover in excess of £50 million for 2017-18.
Current projects range from the fit-out of Birmingham’s Left Bank development to a record-breaking £27m M&E contract for Keybridge in London, incorporating the UK’s tallest residential apartment tower.