A NEW era is under way for York-based William Anelay Ltd, one of Britain's longest-established property restoration and conservation business, after being acquired from its original family ownership for the first time in its 258-year history.

The heritage property restoration and conservation company, which has been trading continuously under the Anelay family since its foundation in 1747, has been acquired by its five-strong management team in what is described as "a substantial but undisclosed six-figure deal." Leading the team is Vernon Carter its new managing director.

He now succeeds Charles Anelay, who becomes special projects manager in the new team and was supportive of the buy out. Mr Anelay, an eighth generation grandson of Thomas Anelay, said: "This is the end of an era for the family, but the start of an exciting new one for the company. It makes perfect sense in the markets in which we now operate.

"I am delighted to be involved in this new era. My passion for the business remains as strong as ever.

"As we move forward, we will also preserve the traditional skills and business values of honesty and courtesy handed down through the generations."

The award-winning company, which employs 120 staff and provides specialist traditional craftsmanship services worldwide from its workshops and team in Osbaldwick, was founded in Doncaster by John Thompson. Although Mr Thompson, who was born in 1714, was married, none of his children survived childhood.

After his niece's husband, John Anelay, died childless in the first year of marriage, Mr Thompson invited John Anelay's brother, Thomas, a builder, to join the business which he bequeathed to him on his death in 1771.

Today the business, which relocated to York in 1900, repairs and restores properties nationally including abbeys, churches, stately homes, historic industrial premises and arboretums and has won dozens of awards from bodies including Civic Trusts and the Royal Institute of British Architects.

Mr Carter said: "Charles Anelay bravely recognised that this deal was necessary for the multi-skilled approach required to survive in the fast-moving modern era which lies ahead.

"We all feel a sense of history in this business. William Anelay has progressed through the centuries because of dynamic people making the right decisions and we see ourselves as part of this tradition."

Other members of the buy-out team are finance director, Stephen Brown; technical director, Tim Donlon; and operations director Tony Townend all of whom have been with the business for several years.

Denison Till , the York-based commercial law firm, which has worked for the company for several years, has been appointed to act for the new management team, although Ross Clark, head of the corporate department at Hempsons Solicitors, Harrogate, acted for the new team during the management buy out to avoid conflict of interest.

Updated: 10:25 Monday, January 30, 2006