OWNERSHIP of a power tool business established more than 40 years ago in York has passed on to the grandchildren of the founding director.

Elcocks Limited, in Fulford, is now in the hands of the third generation of the Elcock family with brother and sister duo Andrew Elcock and Claire Bedford taking over the reins.

The business, which specialises in the sale and hire of power tools, hand tools, accessories and personal protective equipment and clothing, was founded in 1971 by Claude Elcock.

Since then the company, which has its York headquarters in Hospital Fields Road, has grown and opened premises in both Goole and Driffield.

The business was successfully transferred to the second generation, managed by Andrew Elcock and his brother, Ivan.

Over time Ivan's children Andrew and Claire were brought into the company with specific roles, with the shareholders now believing it is the appropriate to "pass the baton on to the next generation".

Outgoing managing director Andrew Elcock said: "Both Andrew and Claire have shown us that they have the capability and loyalty to take the company forward and develop Elcocks as a third-generation family business.

"I therefore feel that the time is right for me to step down from the company knowing that it remains in good hands."

From March 30 both Claire and Andrew became shareholders and directors of the company. The move coincided with Andrew Elcock senior leaving his position as the managing director to explore other avenues and transferring his shares to the next generation.

Claire and Andrew said: "We are delighted to have been given the responsibility to take the company forward and are very appreciative that Andrew has facilitated this move.

"Our father, Ivan, will continue to be involved with the company, guiding us through this transition."

David Dickson, senior partner at York accountancy firm Garbutt & Elliott, and advisor on family business succession, has worked with the Elcock family throughout the transition.

He said: "Elcocks is a true family business and I am delighted to see that, with the right guidance and support, the transition to the third generation has gone so smoothly , giving both staff and customers renewed confidence in the on-going success of Elcocks."