SEVENTEEN jobs are said to have been saved in Blackburn following a management buy-out of a telecommunications firm.

One of the directors of Abbey Telecom, Andy Wilson, and the firm’s accountant Andrew Botham are behind the deal.

A six-figure loan was secured from Mercia Fund Managers to support the move at the Ordnance Street firm, which has provided business telephone systems and a range of communications offerings to a number of leading UK and international players.

Peter Rooney, investment manager at Mercia, said: “Abbey Telecom is an established Lancashire business which has been growing year on year.

“Andy and Andrew both have a strong track record in their fields and with their industry knowledge and business acumen they are ideally placed to take it from strength to strength.”

According to the company’s last set of accounts, filed in September, Abbey’s net asset holdings had improved from £278,482 in 2017 to £443,804 by the following year.

Mr Wilson, who joined the outfit four years ago after undertaking similar work with BT and Ryder Systems in Blackburn, has now become managing director.

Mr Botham, formerly a principal at Mayes Accountants in Accrington, is joining the board as a non-executive director.

The outfit has also been a key sponsors of the Lancashire-wide BIBA and Hive awards in Blackburn for a number of years.

Abbey Telecom Holdings was formed late last year ahead of the move.

Until recently the firm was run by its founders Tony and Alison Raynor. They officially left the business last October.

The company was first incorporated, as EuroHMS, in August 1989 and has been known as Abbey since 1992.