Gleeson sells Concrete Repairs Ltd to its management

MJ Gleeson has sold its Concrete Repairs Ltd (CRL) division to its management for £3m in cash.

CRL's management is acquiring the business through a company, called Rangelast, created specifically for the MBO. CRL will continue to be led by Tony Rimoldi, the current managing director.

CRL is a specialist structural renovation business based in Mitcham, Surrey. It employs 200 staff, all of whom will transfer with the MBO.