A Sheffield-based engineering group that has made components for projects such as the Thames Barrier, the Channel Tunnel and the Millennium Bridge, has been bought by two of its interim managers.

DavyMarkham, which has also supported the construction of Heathrow’s terminal five control tower, was sold for an undisclosed sum to Kevin Parkin and Duncan Hay, interim managing director and interim financial director respectively. Following the completion of the deal, both have taken full-time roles at the company.

The deal was financed by private equity fund Endless LLP with Bank of Scotland providing debt.

DavyMarkham has been restructured in the past 18 months and under the terms of the funding Endless will make further investments to develop the business.

Endless’ investment was managed by director Christopher Clegg, who said the firm backed the deal due to the expertise of the buy-out team and to capitalise on the growing demand for heavy engineering products.

DavyMarkham has designed and made heavy engineering components and assemblies since the 1830s. The company, which has a £14 million turnover and 170 employees, uses its hydraulics, controls, engineering, installation and servicing expertise to support large turnkey projects.