Langtree and Network Space have concluded an agreement for Langtree to acquire the remaining 30% shareholding Network Space held in its developer and asset manager operation, having been a founding investor in the business.
The deal, worth more than £2m, gives the board members of the Langtree group full control of its equity.
Warrington-based Langtree was formed in its current guise four years ago with group chief executive John Downes leading a management buyout of the public sector joint venture interests and brand name of the then Langtree Group.
Land in the ownership of the original company, a significant property portfolio and the property management functions, were retained within the rebranded Network Space which also held 30% of the equity in the ‘new’ Langtree.
Langtree focuses on long-term strategic partnerships with local authorities and government agencies as well as providing asset management services to large pension funds.