News

CHEESMUR IN MANAGEMENT BUY-OUT

The Sussex based construction company responsible for building Brighton’s high profile Black Lion Street development has undergone a management buy-out.

New directors, Terry Nitman and Steve Hayman, have taken over the reins of Cheesmur, which currently employs more than 30 people and has a projected annual turnover of over £6 million.

Like all other firms in the sector, Cheesmur has found trading difficult in the last six months but has restructured to maintain the long term profitability and future of the company.

Terry said:
“Our order book is very strong and our bank recognised this when we discussed the options for taking over. Steve and I have taken full control of the business and while the next 12 months will be challenging, we are confident that we can meet all our commitments and are looking forward to delivering all the projects we are engaged on.”

Cheesmur works extensively in the public sector with local authorities, schools and housing associations. In addition to the Black Lion Street development, that includes the new Jamie Oliver restaurant, the business is also carrying out the refurbishment of the Western Bandstand on Brighton seafront.

Steve said:
“Our many contacts and working partners across the industry are delighted that we have completed the buy-out. These relationships are critically important for us and we will be doing all we can to reciprocate the support these individuals and businesses are giving us.”