LEES, a member of The Corporate Finance Network with offices in Norwich, London, and Hampshire, has advised the shareholders of a construction business on its sale to employees via an Employee Ownership Trust.
A well-established and profitable construction business was sold to its employees via an Employee Ownership Trust (EOT). LEES assisted throughout the process including preparation of valuation, obtaining necessary tax clearances from HMRC, and assisting the vendors throughout the process. The LEES Corporate Finance team, led by Chris Bidgood, also assisted and worked collaboratively with the solicitors to ensure the appropriate structure and documentation was put in place.
The deal was completed successfully, working closely with the client and the legal advisors, to allow the business owner’s phased exit, achieving an outcome that secured the future of the business they had nurtured.
