Mid-Sussex buyout
10th August 1989, Page 15
10th August 1989
Page 15
Page 15, 10th August 1989
— Mid-Sussex buyout
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• The management buyout of Mid-Sussex district council's direct services department by its former direct works officer has guaranteed employment for all but three of the department's 179 staff.
John Jeffery, who has formed a new firm, Prime Contractors, says that employees will have a 15% non-transferable share in the company and will be in a profit-sharing team.
Prime Contractors will take over all refuse collections, street cleaning, building and grounds maintenance, and maintenance of a transport section of 90 vehicles and 200 items of plant, says Jeffery.
He anticipates that the new j company will have a £3 million I turnover in the first year.
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