ONE of the North West's leading plant hire companies has changed hands in a management buy-out.

Three senior managers have bought Noblet Plant Hire, of Brandy House Brow, Blackburn, from its Japanese owners in a deal worth about £3million.

The management team -- managing director Chris Taylor, finance director Peter King and operations director John Kenyon -- said they were looking forward to consolidating and expanding the business over the next 12 months.

Mr Taylor said the company's future was very promising.

"We have a very strong management team and a committed workforce who all understand what we are trying to achieve here at Noblet," he said. "We know that the plant hire business is extremely competitive. However, being independent rather than part of a larger group will give us more commercial freedom and will increase efficiency.

"We have a long term plan for the business and are looking forward to the challenges ahead."

Mr King added: "We have to consolidate what we have acquired which will take six to 12 months and then we can look at what directions the company can go in." He said there were no immediate plans to take on extra staff.

The company, which employs 54 people, was bought from Itochu Europe, part of a Japanese multi-national group. It acquired the company, founded in Blackburn in the 1960s, from businessman George Noblet four years ago.

Noblet hires out heavy earth-moving equipment such as diggers and dump trucks and the staff to operate them.

The management team was advised by Rayner Jones, of commercial lawyers Baines Wilson.