MJ Gleeson has sold Concrete Repairs, its Surrey-based division with 200 staff, to a management buy-out for £3m. The consideration will be paid for in cash. The management have created a new company, Rangelast, for the acquisition, and will continue to be led by the current managing director, Tony Rimoldi. They have also purchased the freehold premises of Concrete Repairs for £600k in cash. MJ Gleeson has also sold the majority of its property portfolio for £27.9m in cash, excluding VAT, in an effort to reduce its debts.