He said: “Patsy was a man who planned for the future and I am honoured to be appointed group chief executive of the Byrne Group.

“Like Patsy before me, I am fully committed to working tirelessly alongside all my colleagues to build upon the existing success and culture of this great business.”

He added: “On behalf of my family and myself, I would like to thank the construction industry and the racing world for the tremendous amount of support we’ve received since my father’s passing.

“It makes you proud to be associated with the industry and the racing and sporting world that my father loved so much. They have many wonderful and colourful characters and my father was one of them.

Following the death of Patsy Byrne business continuity plans were initiated to ensure a seamless transition in leadership.

Johnny Byrne, Patsy’s brother and co-founder of Byrne Group, will continue in his capacity of chairman of the board.

Tony Dowle, Byrne Group’s managing director, said: “Staff and colleagues are delighted that the Byrne name continues to be at the helm of the business but it is the combined strength, depth and expertise of those colleagues that will ensure that the business continues to grow and remain strong and robust.”