BUILDING services group Northern Bear is selling one of its businesses back to its former owner.
The decision to dispose of The Roof Truss Company (Northern) Limited comes a month after it announced the sale of loss-making Hastie Burton to Datewood Builders for £1.
The Chester-le-Street group, which buys construction services companies that are then run by the original management team and staff, is selling The Roof Truss Company to its managing director and former owner Kevin Gray.
He will pay £865,744 for the firm, which designs, manufactures and fits trussed rafters for houses across the region.
The Roof Truss Company made a profits of £24,000 for the year to the end of March but Northern Bear said it was not a core part of the group.
“The disposal follows a review by the board of the operating performance of Roof Truss, as part of a wider review of the group's operations,” said Northern Bear, which owns around a dozen operating companies employing 350 people.
“The board believes that the disposal is in the best interest of shareholders and leaves Northern Bear better placed to make operational improvements to its core businesses going forwards.”
Northern Bear announced last month that its profits would be hit by the severe weather at the end of last year. The group made a £705,000 profit in the first half of its financial year - its best results since the start of the recession.
