Stephen Newman, Partner and Head of Ramsdens’ Company and Commercial team, assisted Rochdale based supplier, A&F Sprinklers, in becoming an employee-owned business.
The move sees 80% of the share capital of the £30m-turnover supplier transferred for an undisclosed sum to an Employee-ownership Trust (EoT) for the benefit of staff.
Stephen acted alongside company owners Mark and Lesley Stansfield, as well as Tariq Javaid and Karen Sadler from Azets.
Mark Stansfield, managing director at A&F Sprinklers, said: "It's such a proud moment to be able to hand over ownership of A&F Sprinklers to our employees. Transferring ownership into our team's hands will ensure our culture and values live on, which was one of the most important factors to us in considering the next chapter for the company.
"We firmly believe this next chapter as an employee-owned business is a just reward for the hard work and talent of our brilliant team. Becoming employee-owned is about maintaining and building on our unique culture. Creating a great place to work is fundamental to our business principles, and we're excited about the next stage of A&F Sprinklers' journey.
"We have received terrific support from the teams at Azets and Ramsdens, who helped us navigate and negotiate the transaction."
Stephen Newman added: “It has been a privilege to work alongside the team at A&F Sprinklers. The UK has seen a growing trend in businesses moving towards a shared ownership model, in order to increase employee participation, and this is particularly effective for those with a strong culture such as A&F Sprinklers. We wish the whole team every success for the future and look forward to seeing A&F Sprinklers continue to grow.”
To discuss whether your business might be suitable for sale to an EoT please call our corporate team on 01484 821 500, email us at info@ramsdens.co.uk or fill out our online enquiry form and we will be in touch at a convenient time for you.
Lesley Stansfield (director) Mark Stansfield (managing director), Stephen Newman (Ramsdens), Tariq Javaid (Azets), Karen Sadler (Azets), Duncan Parker (FD), Dan Clayton (HR director) Nathan O'Connor (service operations director)