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Business

Management buyout at Blackwood

Tom Blackwood (left) and Paul McCormack

TOM Blackwood, owner of Stewarton-based Blackwood Plant Hire, has sold the business in a management buyout.

The Herald newspaper has reported that Mr Blackwood, who has sold the business for an undisclosed sum to a management team headed up by sales director Paul McCormack and plant manager Allan Wilson, now plans to develop a garden centre and country park.

Tom Blackwood bought Blackwood Plant Hire from his father, Tom Senior, 16 years ago. At that time the business consisted of just a few machines. The fleet grew over the years to over 250 machines and 150 employees.

Mr Blackwood will remain at the business in a consultancy role for two years and act as chairman.

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