Beever and Struthers advise Optimum Coatings on becoming Employee Owned

Accountants and business advisors Beever and Struthers advised the management team on the successful management buyout (MBO) of Manchester-based HFL Buildings Solutions Group (HFL), by founder and managing director Dave Saxton and other family members for an undisclosed sum.

Morecambe-based Optimum Coatings, a supplier of complex ophthalmic lenses and lens coatings, has become employee-owned.

It has been sold by its owners to its 71 employees through the creation of an Employee Ownership Trust (EOT) which purchased 100% of the company’s shares. This new business structure ensures that every employee-owner shares in the rewards of their hard work and contributes to the company’s future success. It promotes a culture of inclusivity and shared responsibility, where each employee’s role is critical to the company’s overall performance and sustainability.

"We see this change as an incredible opportunity for growth and innovation.”

Optimum directors, Paul Bailey and Mark Marland, said: “We deeply value the talent and dedication of our team members. That’s why we’ve embraced this change to acknowledge their hard work in a meaningful way. Our employees now have a stake in the company through trust, solidifying our commitment to long-term success and sustainability. We see this change as an incredible opportunity for growth and innovation.”

The firm was advised by accountants and business advisors, Beever and Struthers, and law firm, Brabners. The Beever and Struthers team was led by corporate finance director Dean Curtis with support from corporate finance manager Patrick Wilson and audit partner Iain Round.

Corporate Finance Director, Dean Curtis:

“Employee Ownership Trusts have become increasingly popular as an exit route for business owners. The EOT structure offers a route for businesses to preserve their independence and culture, as well as maintaining the integrity of the business.”

Read the full article here.

You may also like to read these

Back to Insights listings page