Osborne's stonemasonry division stages management buy-out

Osborne has sold its stonemasonry subsidiary, which employs 81 people, to a management buy-out team.

Cathedral Works Organisation (CWO) has a turnover of £5m a year and is based in Chichester.

Leading the eight-man management buy-out team were Bernard Burns (managing director) and Malcolm Diamond (chairman).

CWO was bought by Osborne 15 years ago. Andrew Osborne, chief executive of Osborne group, said: “CWO has been transformed into a specialist business that offers a complete service from technical consultancy and design through to manufacture and construction.

“We are delighted that the management team is able to take the business forward. We look forward to collaboration with CWO on future projects.”