The move by Lloyd and Gravell to employee ownership was driven by a desire to protect the company’s legacy, ensure continuity and reward the people who have been central to its success.
The FDD was undertaken by Kilsby Williams’ partner Huw Sheppard and director Michelle Jenkins, who assessed the historical trading of the company, their forecasts, valuation, systems and management information.
The team drew upon its specialist knowledge and experience of EOT, and of contracting businesses and the wider construction sector, to provide additional advice covering accounting, commercial and tax considerations relating to the structure of the business and employee ownership transition.
Working closely with both the Development Bank of Wales and the management team at Lloyd & Gravell throughout the process, the collaborative approach helped ensure the work was completed in a timely and efficient manner, while supporting the needs of all parties involved in the transaction.
Despite recent reductions in the tax relief available to shareholders selling to an EOT, they remain an attractive option for succession planning for the right people and the right business.
