The management at stone and conservation specialists CWO (Cathedral Works Organisation) in Chichester, Sussex, have completed a buy-out of the company from contractors Osborne. The sum paid is not being disclosed, although Bernard Burns, CWO director before the MBO and now managing director and the biggest shareholder, told NSS: "There was a substantial amount of money paid for the business because it\'s successful."

In the year to the end of March, CWO represented £5million of Osborne\'s £234million turnover. Bernard says they expect to turn over £6.5million this year and anticipate an even better 2007. He says there will be no redundancies following the MBO. In fact, he says: "Over the next few months we will be looking to strengthen the business even further."