The Denman group's commercial director David Weaver has carried out a management buy-out of the firm and taken over as managing director.
His acquisition had the support of Grant Thornton Corporate Finance, ASB Law, GE Finance and Wilkins Kennedy.
Mr Weaver takes over the role of group managing director from Mark Denton who has left the group.
A spokesman for the group said 'Mark will continue to assist with business development, providing support on a consultancy basis to David and his management team'.
Since joining the Denman Group in April 2006 David has looked at strategic and operational issues in addition to managing the support services for Denman Contracting and Denman Facilities Management.
'This purchase will not in any way adversely affect the service we provide and indeed, as part of a continual improvement process I will be driving the business to review and improve our service delivery models,' said Mr Weaver.
The Denman group provides installation and facilities maintenance solutions to operations in the retail food and convenience sectors. Solutions provided include comfort and close control air-conditioning, mechanical & electrical services, plumbing, heating and ventilation.
In this last financial year the group turned over £50m with 300 employees working out of three locations, Reigate, Sunderland and the North West.
'This is an exciting time for the Denman group and collectively we look forward to continuing to grow the business and developing our service framework moving into 2008,' said Mr Weaver.