Wed, 10 Jul 2024 | BUSINESS SALE
A planning, masterplanning and architectural consultancy based in Yorkshire has moved to employee ownership. Spawforths’ new ownership model, established via an employee ownership trust (EOT), will enable the firm’s 22 employees to directly share in its future success and growth by ensuring that each of them becomes a beneficiary of the trust.
The Wakefield-based company works on an array of development projects, spanning from one-off developments to new towns. The firm is currently taking more than £12 billion-worth of projects through the planning system, including the creation of 25 million sq ft of commercial space and 40,000 homes across the North and Midlands.
The EOT will see Spawforth’s current directors continue to manage operations, supported by a board of trustees that will now include three employee representatives. The new structure is set to provide employees with a voice in the company’s strategic direction, while maintaining continuity and stability in operations.
The transition to an EOT model is further expected to boost the company’s capabilities, bolster its existing strong reputation in the industry and provide benefits for clients and employees. The company stated that the move aligns with its ethos of collaboration and community impact.
Spawforths chairman Dave Rolinson said: "This transition marks a new chapter for Spawforths. By becoming an employee-owned company, we are not only investing in our team but also in our future growth. Our employees are at the heart of our success, and this move reinforces our commitment to shared prosperity and inclusive growth."
The deal comes amid growing demand in the global consultancy market. While this has made consultancies highly sought-after acquisition targets, some owners have turned to alternative succession options, such as management buyouts and EOTs, as they seek to maintain their ethos, brand and workforce.
Find out more about the range of exit options available to consultancy owners
This practice is available for sale. The principal would be available to assist in the transition period to ensure a smooth handover of clients.
This practice, which was established in the 1980s, is available for sale. The Partners would be available to assist in the transition period to ensure a smooth handover of clients.
This practice, which was established over 30 years ago, is available for sale. The Partners would be available to assist in the transition period to ensure a smooth handover of clients.
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