Niche contractor Holloway White Allom, formerly part of the John Laing Group, is carrying out a strategic review that may lead to a sale or a flotation on the alternative investment market.

The £70m-turnover company, which specialises in top-end residential and heritage work, has appointed corporate financier Cavendish to do the review.

Bob Cole, Holloway White Allom’s chief executive, said the business had received “a number of unsolicited takeover approaches” and was assessing its position. Management is thought to favour a sale.

Cole said the company was looking to expand, to enable venture capitalist Matrix to withdraw from its 17% stake.