A six-strong management team - including a 26-year-old - have completed a buyout of Sheffield structural engineering firm Ekspan.
The group - all of whom started on the shop floor at various companies, five as apprentices - put up their own money and got a mortgage to buy the 24-year-old Brightside firm.
Founder Peter Dronfield, who lives in Thailand, approached them with the MBO offer and made them “swear on oath” to keep the company going, according to operations director Phillip Lawton.
He added: “We look at it as a long term adventure - it’s a once in a lifetime opportunity for us all, including Spencer Goff who is just 26.
“We have run the business for a number of years now, but taking ownership has made it more exciting.
“Peter saw it as the best way to ensure he was happy with the succession.
“He wanted to keep the ethos of a company that is driven by engineering rather than finance.”
Ekspan is a structural bearings specialist which employs 43 and turns over £5m-£6m-a-year.
Business is booming thanks to high profile projects around the country including glass walkways on Tower Bridge in London, Mr Lawton added.
The firm also has a big contract at Abu Dhabi airport and has built two of the world’s biggest wind turbine test rigs, at a cost of £2.25m each.
Mr Lawton said they had returned Ekspan’s the Blue Shed - formerly used as an arts and exhibition space - to engineering use and they were looking to recruit project engineers.
The deal ends ties with the Dronfield family. Ekspan was established by Peter Dronfield and son Michael in 1991.
Son Matthew joined in 1999 and rose to become chief executive before leaving in February this year.
All photos by Anup Dholakia.