The manager of a Powys based concrete business who worked there for two decades has now bought the company from its founder.

Director Shane Clee has purchased Welshpool-based Forden Concrete Products Ltd from its founder Geoffrey Jarman after working at the business for 24 years.

Mr Jarman first established the precast concreting company in 1978, while Mr Clee joined the company in 2001, purchasing it in 2024 as part of a management buy-out.

Mr Clee said: “After 24 years with Forden, this is a great opportunity to take on the business myself and work with our close-knit team to continue doing what we love and know best.

“We’ve worked closely with Geoff to build the strong reputation that we have and now look forward to getting stuck-in with our plans for future growth but we wouldn’t be doing it without the help of the Development Bank.

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“From start to finish, they have been brilliant and I’m very grateful for their support, advice and reassurance throughout the process.”

The buy-out was partly funded through a £45,000 loan from the Development Bank of Wales, which was set up by the Welsh Government with the aim of support the economy of Wales by making it easier for businesses to get the finance needed to start up, strengthen and grow.

The loan for Forden Concrete Products Ltd came from the £500 million Wales Flexible Investment Fund that is financed by the Welsh Government and Development Bank of Wales. Loans, mezzanine finance, and equity investments are available for businesses based in Wales from £25,000 to £10 million.

James Ryan, an investment executive with the Development Bank, added: “We are here to help businesses become established, grow and thrive.

"A core part of our remit is to support management teams who want to run their own business so we’re pleased to have been able to help Shane to become the new owner of Forden, particularly as it is a well-established business that employs local people.

"We wish the team every success.”