A SURVEY by KPMG Corporate Finance shows that there have been more than 30 North-west management buyouts - worth £350 million plus - this year.

One of the biggest was the £25 million buyout of Worsley-based John Kennedy (Civil Engineering) Ltd last month.

Kennedy is one of the leading specialists in the laying, relining and refurbishment of water, gas and sewer pipes.

The company, founded in the early 1960s, employs around 400 staff and operates from a purpose-built site in Worsley with depots in Chesterfield and Exeter.

A KPMG Manchester Corporate Finance team acted as deal initiators and lead advisers to the vendors.

Mike Gabriel, head of KPMG Corporate Finance in the North-west, said: "Everything points to a continuation of this unprecedented boom in buy-outs.

"Corporate restructuring is continuing apace, with companies looking to sell off non-core or underperforming activities."

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