McBrides, a member of The Corporate Finance Network based in Kent and South East London, has advised the shareholders of a Manufacturing business on its restructure and subsequent sale to an Employee Ownership Trust (EOT).

McBrides Corporate Finance Partner, Nigel Kimber, was approached by his client as they sought advice for the complex two-tier project.

Nigel and the McBrides Corporate Finance team undertook a myriad of tasks throughout the project. They successfully applied to HMRC for clearance for the proposed transaction, assisted the client with identifying the trading and non-trading assets so the latter could be separated via a non-statutory demerger. Nigel also assisted with valuing the trading entity to set the price for the sale of 51% of the trading company to an EOT with the client retaining a 49% holding. An EMI scheme was also put in place for two key management personnel granting options over 17.5% of the client’s remaining 49% holding.

The McBrides team project managed the project from start to finish, liaising with solicitors, insolvency practitioners, and an EOT firm to ensure the reconstruction and subsequent sale was completed successfully.

The outcome was a successful completion with all parties geared towards growing the business during the next phase of its journey.

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Categories: Deals


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