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Bowkett leads buyout of Mitie's scaffolding firms
14:49 20 Jun 2002
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Bow scaffolding managing director Michael Bowkett has led a
£14m management buyout of the five scaffolding companies that
used to be part of the Mitie Group.
Trading as Bow Scaffolding, it has 550 employees and an annual turnover of £23m. Average contracts are worth between £100,000 and £200,000.
Bowkett said: "We will improve geographical spread and ensure that only qualified operatives are used in the process of erecting scaffolding."
The business was sold because scaffolding was non-core to Mitie's future plans. Ian Stewart, chief executive of Mitie, said that his group wished to focus on providing services to building owners and occupiers.
Bow expanded in the 1980s when it snapped up fellow scaffolder EPL. It was taken into the Mitie Group in the 1990s. The majority of Bow's workload is for housebuilders.
Trading as Bow Scaffolding, it has 550 employees and an annual turnover of £23m. Average contracts are worth between £100,000 and £200,000.
Bowkett said: "We will improve geographical spread and ensure that only qualified operatives are used in the process of erecting scaffolding."
The business was sold because scaffolding was non-core to Mitie's future plans. Ian Stewart, chief executive of Mitie, said that his group wished to focus on providing services to building owners and occupiers.
Bow expanded in the 1980s when it snapped up fellow scaffolder EPL. It was taken into the Mitie Group in the 1990s. The majority of Bow's workload is for housebuilders.
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