Please note that this News item is not maintained, and reflects the law as at the date of publication or update.
Partner, Mark Williams, recently led the corporate team on the complex restructure of the RJ Power Group, a national group of specialist electrical companies. To achieve greater operational and management efficiency, the Group opted to bring its eight companies into one consolidated group under an overarching parent company.
A majority of the shares held in the parent company were then acquired by a newly formed Employee-Ownership Trust (EOT). The team prepared and advised upon the legal documentation involved in both the restructure and formation of the EOT, including four share-for-share exchanges, a Trust Deed, and various documentation required for the issue and transfer of shares.
This increasingly popular EOT model offers an incentive to employees, whilst allowing the owners of the company to retain some control through their remaining shareholding. There are also some distinct tax advantages associated with this ownership structure.
Peter White, R J Power’s CEO, said “We’d like to thank Mark and the team for their hard work and diligence throughout the restructure process. They were friendly, professional and extremely knowledgeable. We are excited for our future plans and can look forward with great confidence.”
Restructuring a business can be a complex process. At Gaby Hardwicke, our legal experts can offer valuable practical advice on reviewing your existing business structure and the options that are available to you. For more information, contact Mark Williams.
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