Geldards’ Cardiff-based corporate team has successfully advised The Urbanists’ management team to complete the purchase of a majority shareholding from a retiring shareholder by an Employee Ownership Trust (“EOT”).
The Urbanists, based in Cardiff, was formed in 2005 and brings together planning, landscape architecture and architecture professionals. The EOT will allow the ownership of the business to be shared with its employees. The creation of the EOT fits in with the business culture of The Urbanists in encouraging collaborative working to grow the business.
The Geldards team was led by Partners Andrew Evans and Geraint Tilsley, who dealt with all aspects of the transaction.
The completion of the purchase of shares in The Urbanists is the second completion of a purchase by an EOT on which Andrew and Geraint have advised in recent months, after completing the purchase of Cwmni Da, a TV production company based in Caernarfon in December 2018.
Andrew Evans, said:
“We have been delighted to work with the management team at The Urbanists for the last 9 months to achieve their aim of achieving a successful buyout by the EOT.”
“We look forward to watching their future success and working with them on future projects.”
James Brown, new Managing Director of The Urbanists, said:
“We are grateful to Andrew and Geraint for their advice and hard work throughout the purchase process.”
“Their contribution was invaluable in making the transaction complete on time.”
For business advice from an expert, knowledgeable, approachable solicitor, please contact a member of our Corporate team.
GELDARDS ADVISE ON CREATION OF THE WALES MANAGEMENT SUCCESSION FUND >>