THE Co-operative Group's engineering facilities business, Syncro, has been sold to Aston Ventures for an undisclosed sum. All 400 workers will continue to be retained as Syncro employees.
Syncro, which has regional bases in Manchester, Gateshead, Paisley and Bristol, provides a wide range of mechanical and electrical engineering, construction and facility management services to both the co-operative and the private sector.
Paul Hewitt, the Co-op Group's Deputy Chief Executive, said the decision to sell the business was in line with the Group's declared strategy of focusing on its core businesses.
"Aston has an established and successful track record in managing and developing businesses in a number of sectors," he explained. "This is a positive step forward for Syncro which will help build its strengths in a competitive marketplace."
Paul Ruocco, spokesman for Aston which has a portfolio of businesses, which include leisure, engineering, plant hire, and mechanical and electrical contracting commented: "Syncro has an excellent reputation and good prospects. We are committed to growing its business."
Syncro, whose head office is in Manchester, is involved in wide spectrum of engineering, construction and facilities management including retail refits, heating and ventilation equipment and retail equipment supply.