A £29m-turnover concrete products manufacturer in Cheshire has been bought out of administration by its management, safeguarding all 340 jobs.

Buchan Concrete Solutions entered administration on Friday 6 November 2015, with Ted Wetton of Gibson Booth appointed administrator.

The Middlewich-based company was established as a tunnelling contractor in the 1930s and traditionally all of its work was within the civil engineering sector.

Today, the majority of its business is in the building and construction industry, producing a range of products from precast concrete fire walls and stairs to large precast buildings for the health, hotel and education sectors.

A Buchan Concrete statement said: "The business has experienced challenging trading conditions in the recent months caused by design and factory delays and increased costs which have affected contracts and had a knock-on impact on cashflow and on Friday, 6 November 2015, Ted Wetton of Gibson Booth was appointed as administrator.

"The business, which has a turnover of £29m, has announced that it has been bought by its management team and will now trade as Buchan Concrete Products Ltd (BCP). The deal will safeguard all jobs at the company."

According to Companies House, BCP is wholly owned by director Robert Brown. Brown is also a director of Buchan Concrete Solutions.

BCP was known as Strategic Management Consulting until 15 October 2015.

Irwin Mitchell acted for the board of Buchan Concrete Solutions in the run-up to the administration and for BCP on the purchase.

Irwin Mitchell's restructuring and insolvency team included John Vickery, Tom Paton, Rebecca O'Callaghan and James Hillman. Corporate Partner Matt Ainsworth also advised on the sale.

John Roche and Alistair McHenry of Walker Morris acted for the administrator.