THE boss of an engineering firm has secured a £90,000 payout from a Radcliffe rival over a botched takeover.

An employment tribunal heard Stephen Eyres was managing director of Hyde-based Excel Compressor Engineering when it was acquired by Air-Vane in 2014.

Part of the deal, according to Mr Eyres, saw him retained as Excel’s managing director until the end of July this year, on a £6,000 a month salary.

Before the end of June 2015, the tribunal heard, staff were transferred from Hyde to Air-Vane’s premises on the Dale Industrial Estate in Radcliffe.

Mr Eyres said he queried his position - but was told by Air-Vane managing director Mark Peacock this did not apply to him as a director.

However later he was presented with a new £55,000 a year contract, which would run for 12 months, the hearing was told.

Giving evidence, Mr Eyres said he never signed this agreement and continued to receive salary payments from July to November 2015.

Relations between Mr Eyes and Mr Peacock later soured, with the former accusing the latter of ‘stealing his customers’ as a result of the takeover.

He was also concerned over how his father-in-law Barry Cluney, an investor in Excel, would be repaid.

Lawyers for Air-Vane argued Mr Eyres had objected to being transferred to Air-Vane and therefore could not claim unfair dismissal.

Employment Judge Paul Holmes, sitting with two lay members, found that Mr Eyres had moved with other staff under a TUPE arrangement.

He ruled in Mr Eyres’ favour, and determined he was entitled to compensation and a basic award.

Judge Holmes said: “It is common ground that the claimant did not know that there was a proposed transfer of his employment to Air-Vane. He therefore could not, and did not, object to it.”