Scrutton Bland, part of the Sumer Group has successfully advised and supported two clients through sales to employee ownership trusts (EOTs).
The first EOT transaction related to a long-standing client of the firm in the plastic manufacturing industry. James Thurkettle of Scrutton Bland successfully navigated the various and differing desires of the four shareholders and structured a deal that ultimately catered for all of them. The principle of employee-ownership emerged as the most appropriate solution for their circumstances.
The second EOT transaction related to a new client for the firm and the answer of an EOT transaction was a natural fit for the company as they already empowered and rewarded employees beyond the norms. The Scrutton Bland team helped at all stages of the transaction and were also pivotal in educating employees on the changes and challenges that an employee-owned company brings.
In both cases this work ensured a smooth and successful transition of ownership, providing stability and certainty for the workforce and the business going forward.
