It was with great pleasure that Jonathan Oxley and Mel List from Lupton Fawcett’s Employee Share Ownership Team introduced Deb Oxley of the Employee Ownership Association (“EOA”) to 6 of the leading lights in the Leeds Corporate Finance world earlier this week. The meeting took place in the convivial surroundings of the private dining space of the Brasserie at Malmaison in Leeds.
The CF firms represented were Mazars, Baker Tilly, Sterling CF, Park Place CF, Garbutt & Elliott and BHP.
The employee owned business sector has grown rapidly over recent years and now has cross party political support. The weight of evidence demonstrating the competitive and financial benefits of the employed owned model in business is mounting steadily.
Employee Ownership has always been a potential exit route for Sellers of businesses. Since tax changes in 2012 a sale of a majority stake to a new style Employee Ownership Trust can benefit from an exemption from capital gains tax, so the a seller’s tax on exit is zero.
It is also apparent that, as mainstream funders come to understand and appreciate the medium to long term stability of businesses with employee ownership structures, they are increasingly comfortable lending to finance exit deals to employee ownership.
Jonathan specialises in buying, selling and financing companies. As well as corporate finance work he leads the firm’s Pharmacy Team and advises on employee share schemes and employee share ownership. Jonathan particularly enjoys working with dedicated, creative and entrepreneurial business people who are looking for pro-active counsel to contribute to the growth and success of their business ventures.
Please note this information is provided by way of example and may not be complete and is certainly not intended to constitute legal advice. You should take bespoke advice for your circumstances.