Kinetic plc has become the latest company to become employee-owned, a structure which is one of the fastest growing ways for business owners to realise the value of their business whilst ensuring the businesses legacy and culture is preserved post deal.
Turner Parkinson’s Corporate team advised Managing Director and majority shareholder Neil Smith on the deal, which will preserve the culture and independence of the recruitment business while ensuring staff share in its success.
TP’s Employee Ownership specialist Stephen Hadlow led the team with assistance from Solicitor Matthew Flanagan. Stephen commented: “We are delighted to have supported Neil Smith and the team at Kinetic plc in becoming an employee-owned company. Not only is employee ownership a great succession plan for current shareholders, it also provides businesses with a platform to promote higher productivity and greater levels of innovation. We would like to wish Neil the best of luck as Kinetic plc moves forward in growing the business and in doing so, sharing its overall success with its staff.”
Stephen continued, “The sale of Kinetic is the latest in a number of successful employee buy-out deals we have been involved with and further cements our strong market position in delivering this innovative deal structure to business owners. We see the Employee Ownership model providing a route to succession in a number of sectors, particularly those businesses which embody a strong team based and long-term culture. “
HURST Corporate Finance and JMW also advised on the deal.
For more information on how Employee Ownership could work within your business please feel free to contact Stephen Hadlow.