SOLD: Lismore company with 78-year history has new owners
ONE of Lismore's oldest companies has been bought out, but management says it's "business as usual".
Bennett Constructions has been operating on the Northern Rivers for 78 years and is currently in the process of building its new $10 million headquarters in the Lismore CBD.
In a statement issued just before Christmas, construction company Lipman announced that, in its 50th year, it had acquired Bennett's in what it described as a "very exciting development".
The Lipman Group has offices in Sydney, Port Macquarie and Bathurst.
"Agreement has been reached between the two parties and Lipman will purchase Bennett Constructions, which will come into effect from January 1, 2017," the statement explained.
"For existing suppliers, subcontractors, and clients, 2017 will be business as usual for both organisations.
"For us here at Lipman the acquisition of Bennett Constructions was clear and simple - Bennett's are an organisation with 78 years of history of successfully servicing the Northern Rivers, Northern Tablelands and SE Queensland regions.
"They are a team with a highly respected reputation, regarded as people of integrity, committed to delivering the highest quality projects, making a difference in their community and treating people well.
"From the outset in discussions with Margaret Bennett, Darryl Piper, Marty Brennan and the rest of the Bennett's team, it was clear that the core values of Lipman and Bennett were aligned, and we struck up an instant respect and regard for each other and the way we both go about doing business."
Despite the acquisition, the team and the name of Bennett's will not change.
Mr Piper will stay on as general manager and Mr Brennan will continue in his role as construction manager.
"With the support of Lipman's senior management team and resources, they will continue to service their region as they have done so well for the last 78 years," the statement explained.