Leading retail business sold for £24m to an employee ownership trust

HLaw were pleased to have assisted a well-known outdoor consumer brand on its £24 million sale to an employee ownership trust formed for the purpose.

We advised on all aspects of the transaction, from formation of the trust, on the tax structuring considerations and through to completion of the sale. We also advised on certain equity incentive arrangements for management.

Jeremy Glover, who led the deal for HLaw, commented, “employee ownership trusts have become increasingly popular since they were introduced by the coalition government back in 2014. Not only do they incentivise the workforce by putting equity in their hands, but also offer significant tax advantages to those selling shares to the trust.”