The Chadderton-based building contractor, which turned 50 this year, is the latest North West company to make the switch to employee-ownership trust status.
The previously family-owned company was founded in 1971 and has 50 employees. In a press release, the company said that the transition to EOT would “preserve the family ethos of J Greenwood (Builders) developed over half a century”.
Accountant RSM advised owner John Greenwood on transition, which involved him moving his shares to an EOT.
Greenwood will stay on as chairman, with managing director Adrian Rooney and health, safety and environmental director Darren Garner joining him as members of the operations board. As members of the board, they will oversee the day-to-day business of the company.
“The foundation of the employee ownership trust is a fantastic outcome for the company, our people and our clients, and I’m certain that it’s in the best hands possible,” Greenwood said.
“I’m proud of the business we’ve built over the past five decades and I wanted to put in place a structure so that the company could continue to operate in its current form, with its current people and its current location,” he continued. “This may not have been the outcome if the company had been sold to an outside buyer or investment had come from elsewhere.”
J Greenwood works in a variety of property sectors and has experience in affordable housing, extra care, leisure, education, health, commercial and public building contracts. It has worked with both the public and private sectors.
Its most recent projects include the £1m Salford City Roosters Rugby Club clubhouse and £1.5m refurbishment of Harpurhey Manchester College.
In the past, J Greenwood has worked with Jigsaw Homes, Great Places Housing Group and Mosscare St Vincent. J Greenwood has also been appointed to the £750 Innovation Chain North framework and £560m JV North framework.