Richard Budge, British businessman, Died at 69

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Richard John Budge was born on April 19, 1947, Boston, Lincolnshire, and died on July 18, 2016.

He was the Chairman of The Coal Industry Social Welfare Organisations.

Richard went to the Boston Grammar School in Lincolnshire.

He started out in the coal mining industry when he joined the company of Retford-based (on West Carr Road) A.F. Budge, owned by his brother Tony, which ran opencast mines.

The company was also involved in civil engineering schemes such as building the new £3.2m A638 Redhouse interchange on the A1(M) north of Doncaster in 1979; junctions 4-6 of the A1(M) in 1973; and junctions 1-3 of the M621 in 1975; the M181 and a section of the M180 near Scunthorpe in 1978.

During 1988, the company also sponsored the Cheltenham Gold Cup.

Richard Budge bought the opencast coal and Plant division from the family business with venture capital backing from Schroder Ventures for circa £103m, in February 1992, a transaction approved by Charterhouse Ventures and Prudential Ventures which were preference shareholders of AF Budge.

However, AF Budge, was majority owned by his elder brother Tony Budge.

Richard formed the company, Coalpower, in 2001

Richard was married to Rosalind.

Together they resided in Wiseton in north Nottinghamshire near Gringley-on-the-Hill, close to the A631.

Richard Budge pased away at 69 years old.

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