An Urmston-based civil engineering company with a turnover of around £55m has been bought by Enterprise plc for an undisclosed sum.

Byzak, which is a specialist mechanical and civil engineering firm that works mainly with water companies, was sold by owner Peter Byrne, who bought the business 12 years ago.

Byrne is set to stay on at the company, which employs around 240 people, as a consultant to the company. 

He has been advised on the sale of Byzak by Manchester-based corporate finance boutique Ford Campbell.

He said: "I could not be happier leaving the business in the safe hands of Enterprise, and I believe that both our clients and our staff will be able to share in the future success, which I am sure Byzak and Enterprise will achieve together."

"Ford Campbell took the time to understand me, what I wanted to achieve with Byzak, and most importantly who my business would add most value to. It is most definitely that understanding which has led to such a successful result for all parties."

Chris Froggatt, managing partner at Ford Campbell said: "Once we had fully understood Byzak's strengths, we knew that its services would be extremely complementary to those already within the Enterprise Group."

"Enterprise definitely represented a special buyer, and I am delighted with the result for Peter and with the opportunities for both businesses going forward."

Preston-based Enterprise is the UK's largest dedicated provider of maintenance and front-line services to the public sector and utility industry.

In August, TheBusinessDesk.com reported that Byzak's parent company, Globemile, saw its sales drop by 22% to £28.2m, while pre-tax profits also fell to £323,000.

Enterprise is owned by private equity firm 3i and chairman Owen McLaughlin, who led a £490m buyout of the company in 2007.