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We are delighted to announce the completion of the sale of IFSE Group Limited and its subsidiaries to an Employee Ownership Trust (“EOT”).
Working closely alongside Postlethwaite Solicitors we were delighted to have helped IFSE Group achieve both their personal and financial objectives.
The new structure will see its 35 staff own a significant and meaningful stake in the business, following a period of major growth over the past 12 months.
Structured in accordance with the rules of what is a Government-backed scheme, the EOT provides employees with the opportunity to directly benefit from the future success of the business.
As well as being set up for the benefit of all employees, the transition to this new business structure will also prove an exciting proposition when it comes to attracting new talent, allowing our client to stand out from its competitors.
IFSE Group Managing Director, Andrew Fordyce, commented:
“We have retained Simmons Gainsford as our auditors for a number of years, long enough to have helped us with the acquisition of our service company and share purchase on the retirement of one our founding directors. They managed the whole EOT process for us and worked alongside Postlethwaite to provide the specialist EOT set up knowledge that was needed to complete the transaction.
We completed around four months after starting the process and I am very happy with the outcome which has strengthened our ongoing relationship with Rajiv Thakerar, Anthony Rose and their team.”
How can we help?
Here at Simmons Gainsford, we have undertaken a number of EOT transactions for our clients in recent years and can support you throughout the whole process including through the provision of comprehensive tax advice and the coordination of legal support.
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