A North East entrepreneur who sold his workwear business in a £50m deal has made a first acquisition through a new enterprise.
Andrew Ward last year sealed the significant deal for Durham based Workwear Express, a firm he began at the age of 18 with little more than a van and a sewing machine, growing it to become a leading manufacturer and supplier employing more than 280, sending workwear, promotional clothing and PPE to all sectors around the globe.
Five months after selling the business, to distribution and outsourcing giant Bunzl, the Durham entrepreneur has snapped up Merrington Industrial Estate in Spennymoor in an £8m deal, as the first purchase for his new firm Ward Group Investments.
Through his career he has also developed an extensive property portfolio and he is an experienced developer and landlord. The new organisation is set to invest in a diverse range of properties including industrial, retail, office, leisure and student accommodation across the North East.Source: Business Live