Ainscough Vanguard keep it in the family
Wigan machinery removal and Installation specialist Ainscough-Vanguard Ltd has a new leader to take the company into the future.
Martin Ainscough has sold his 51 per cent shareholding to his eldest son Matthew for an undisclosed sum.
The remaining shareholdings are held by Brendan Ainscough and the three non-family directors who are Steve Norman (operations director), Ian Coppock (commercial director) and David Cheers (finance director).
Ainscough-Vanguard is now the second largest machinery removals and installation company in the UK with turnover in excess of 20m and pre-tax profit of 2.5m.
It has six locations throughout the UK and more than 200 employees.
Ainscough-Vanguard was de-merged from Standish-based Ainscough Crane Hire and incorporated as a separate company in September 2001 and has since made a number of acquisitions including the purchase of Pickford Vanguard in 2005.
Ainscough Crane Hire was later sold by the Ainscough family to a management buy-out backed by the Bank of Scotland in 2007 for 255m.
Martin Ainscough, who will stay on for an interim period as a non-executive chairman, said: "I am delighted to hand over the control of Ainscough-Vanguard to my son Matthew."
Matthew Ainscough, a 31-year-old dad of two, said: "This is a fantastic opportunity for me and I am looking forward to working with the great team at Ainscough-Vanguard."
Matthew worked at Ainscough Crane Hire from leaving school starting as the tea boy and ending up as Heavy Cranes Manager before starting his own business.
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Friday 10 February 2012
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