North Yorkshire-based accountancy firm Hunter Gee Holroyd (HGH), has acted for a trust set up for an EOT.
Mark Grewer, Director, supported by Kelsey Butterfield, prepared a valuation of the company on behalf of a board of trustees, to deliver an EOT in the engineering sector. The vendors, who wished to sell the company to its employees, using the Employee Ownership Trust structure, were being advised by another firm in The Corporate Finance Network.
The purpose was to provide the trustees with a fair market valuation of the business and reassurance that the proposed price was reasonable.
HGH guided the trustees through the process step by step, as this was their first experience of preparing a company valuation. This included delivering a tailored presentation to support their understanding and decision-making.
The deal was successfully completed ahead of the new tax year, as planned and the employees have now taken control of the business, via the EOT.
