Conlon Group, a construction company based in Preston, is now an employee-owned business. This significant change follows months of careful planning and deliberation by the company’s board of directors and the Conlon family.
The company has a rich history, dating back to 1961 when it was founded by five brothers. They initially worked on what is now known as the M6 motorway, establishing a strong reputation in Lancashire.
Shift to Employee Ownership
Preston-based construction company, Conlon, has transitioned from family ownership to an Employee-Ownership Trust (EOT). This decision was the result of extensive planning by the board and the Conlon family.
The company, established in 1961, initially operated under the name ‘Conlon Brothers’. It has built a strong reputation in the Lancashire construction sector.
Legacy and Vision
The original founders, five Conlon brothers, were involved in the creation of the M6 motorway, also known as the Preston Bypass.
Michael Conlon, the chairman, stated, “What we’re doing is completely aligned with our company ethos. Our founders put people at the heart of the company.”
Conlon aspires to maintain the same culture and enthusiasm that has defined its operation for over six decades.
Operational Continuity
The transition aims to ensure stability. Clients and supply chain partners will continue working with the same team members, including all directors and 72 staff members.
The current board will remain responsible for running the business but will now report to a trustee board that includes two elected employee trustees.
Community and Client Engagement
Michael Conlon expressed his gratitude to colleagues, clients, and supply chain members for contributing to the company’s success. He looks forward to their continued support and efforts.
The company’s leadership believes this change is the best outcome for both the business and its employees.
Advisory Support
The directors were advised through this process by Kevin Steven of Pierce Corporate Finance and Stephen Hadlow of Brabners law firm.
This expert advice was crucial in ensuring a smooth transition to employee ownership.
Future Prospects
Conlon’s move to EOT is anticipated to bring many benefits, including ensuring the long-term sustainability of the business.
Employee ownership is expected to foster a greater sense of responsibility and motivation among the staff.
Stakeholders are optimistic that this strategic shift will lead to continued success and growth.
The shift to an Employee-Ownership Trust marks a new chapter for Conlon Group, aiming to preserve its legacy while fostering a sense of ownership among employees.
With a trusted advisory team and a clear vision for the future, Conlon is well-positioned to thrive in the coming years, ensuring long-term success and stability.