A family firm first established 280 years ago has been passed on to the next generation.
Procter Brothers, which dates back to 1740, has completed a management buyout led by existing managing director John Procter.
The deal has enabled an exit for Mr Procter’s father, Jeremy Procter, from the Bedwas-based manufacturer and service provider.
Mr Procter senior will remain with the business in an advisory role.
The value of the buyout has not been revealed, but it means the firm, which employs 110 staff, remains in the family.
- Children receiving free school meals during half-term
- Review to be carried out into single person council tax discount
- Man released on bail after police attacked, cars damaged and window smashed
- Second round exit for Price at International Darts Open
- Protest at Caerphilly Castle over coronavirus pandemic
- Police release CCTV images as part of investigation into woman’s death
The group has two arms – Procter Machine Safety manufactures and installs machine guards and provides machinery safety services, while Procter Contracts designs, manufactures and installs entrance gates, fencing, security systems and street furniture.
Investment plans have been made to improve the firm’s base at Pantglas Industrial Estate. There are also plans to develop an e-commerce website .
John Procter, group managing director, said: “I am delighted to have led the acquisition of Procter Brothers Ltd, where I have worked as managing director for over six years.
“We are a market leaders in machine safety, security fencing and automatic gates and I am committed to growing the business further and cementing our position within the industries we serve.”
Stay informed with quality, independent, local journalism…that matters
For the last ten years, Caerphilly Observer has provided an award-winning, balanced, and independent news service to the people of Caerphilly County Borough.
We believe the public should be informed about their community, coherently and with context. However, running a professional news service comes at a financial cost.
We are asking readers for their support to help us develop and grow our service.
Our membership costs from just £3 a month and in return, you can use our website without adverts.
Become a member