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Franklins Solicitors LLP

Franklins Solicitors’ Corporate Team complete on Company’s restructure to Employee Ownership Trust

Posted: 24/03/21 by Franklins Solicitors LLP

Franklins Solicitors’ Corporate Team complete on Company’s restructure to Employee Ownership Trust

Franklins Solicitors LLP would like to congratulate Support Maintenance Services Limited on its recent company restructure as an Employee Ownership Trust. We were delighted to support on this transaction, both Holly Threlfall and Andrea Smith of our corporate team working closely with Peter Miller of The Miller Partnership and Harry Walker of FRP Advisory, to transfer ownership of the Company to its employees.

This unique transaction would not be possible but for the hard work and dedication of director Hazel Scanlon, her partner Sean and the commitment of the Company’s employees who have driven the Company through the challenging year we have all faced.

Support Maintenance Services Limited is based out of Milton Keynes, providing a high quality cleaning services and office cleaning nationally to commercial clients.

Holly Threlfall, Associate Partner at Franklins Solicitors said “I have known Hazel and Sean for several years as they have explored the best options for them and the Company. I am thrilled to have worked on this transaction with them, effecting a change that not only rewards them for their continued hard work but gives back to the employees.”

Andrea Smith, Partner & Head of Business Services at Franklins Solicitors, said “I am pleased to have worked with Hazel, Sean and the trustees in developing a structure that is a fantastic way to reward employees and allow them to gain from the success of the Company.”

Business Tax Adviser, Peter Miller, said “My congratulations to the management team. Working on a transaction such as this is always rewarding and it’s good to see the tax system working as intended to encourage wider employee ownership of businesses, in line with government policy.”

Harry Walker, Corporate Finance Director, said “We were very pleased to work with Franklins, Peter Miller and the team at the Company to deliver this sale to the Employee Ownership Trust. We wish the business all the best for the future and are sure it will thrive under this new ownership structure.”

Delighted with the outcome of the transaction Hazel Scanlon, Director of Support Maintenance Services Limited, said “After 20 years of being a director at SMS, this was a fantastic opportunity to give back to all the hard-working employees who ultimately make it all happen. Thank you to all the teams that worked on the EOT and advised on the best outcomes. Special thanks to Holly, who worked tirelessly to support all areas of the structure.”

We wish Support Maintenance Services Limited every success in the future and look forward to supporting its future endeavours.

For further information on our wide range of Business Services, contact the team on 01908 660966 / 01604 828282 or email BusinessServices@franklins-sols.co.uk.

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