A transition to employee ownership, enabling shareholders to realise value while preserving the business legacy.
The client
Established in 2006, Langley is a leading supplier and manufacturer of street furniture to a number of sectors including education and housing across the UK. Langley provides a range of high-quality products including benches, pergolas, bike racks to their loyal customer base.
What we did
The K3 Deal Advisory team delivered the sale of Langley to an Employee Ownership Trust (EOT). This is a great achievement for Langely, as it allows its founders to empower the company’s workforce to play an active role in the next phase of its growth journey.
This transaction was delivered by Director, Philippa Robinson and Manager, Darra McCarthy-Paul. Tax support was provided by Managing Director, Holly Bedford from K3 Deal Advisory’s sister company K3 Tax Advisory.
K3 Deal Advisory acted as the trusted financial advisor throughout the process. The team provided lead financial advice, company valuation and tax structuring, whilst leveraging its extensive experience in delivering M&A transactions to navigate complex issues and deliver a successful transaction.
The outcome
The transaction allows the shareholders to realise some of the value they have created since establishing the business in 2006. The sale to the EOT allows them the comfort of knowing that the team are aligned to continue the legacy they have created.
Selling to an EOT allows employees majority ownership of the company. The new structure will motivate and align employees within the business to support its future growth plan, as they hold a stake in the long-term success of the business and stand to benefit from any future dividends. This not only helps to improve employee retention but can also help to recruit the best new industry talent.
