Henry Boot Construction managing director Lee PowellHenry Boot has decided to quit construction contracting to focus on house-building and land development. Henry Boot Construction (HBC) is being sold to newly incorporated PWS Construction Limited, which has been set up by Henry Boot Construction’s managing director Lee Powell and commercial director Chris Weathers. PWS is paying an initial consideration of £4.0m, which is being funded by PWS via a vendor loan note issued by Henry Boot. The transaction also provides for additional payments to Henry Boot in the future based on certain performance criteria. Henry Boot chief executive Tim Roberts said: "The sale of HBC which we are announcing today allows Henry Boot to further its strategic focus on high quality land, prime property development and premium homes.