The Yorkshire & North East Corporate Finance team has advised specialist design and contracting business, MTW Architectural, on the sale of the company to an Employee Ownership Trust.
A West Yorkshire company specialising in the design, fabrication and installation of building facades has become an employee-owned business, supported by other regional advisers working on the deal.
MTW Architectural, based in Wakefield, was founded in 2005 by Richard Moore, Managing Director and Neville Taylor, Commercial Director. It has developed over the years to be one of the UK’s leading façade contractors focused on delivering quality projects through the business’ extensive technical and commercial knowledge.
The £14m turnover business specialises in the design, fabrication and installation of the Schuco System, a high quality solution for windows, doors and facades, working with clients such as Galliford Try and Bowmer & Kirkland.
MTW Architectural has now become 100 per cent employee-owned with the founders transferring their shares to an Employee Ownership Trust (“EOT”). All of the company’s employees will benefit financially from the future success of the company.
Richard Moore and Neville Taylor will remain in their current roles and continue to be directors of MTW Architectural. They will be joined on the board by Joanne Abbott, Financial Director and Michael Davany, Production Director.
Richard Moore said: “Selling the company to our outstanding employees through an EOT has felt like the most natural option for the business. It is recognition of the fantastic contribution of the whole team to MTW Architectural’s growth and success and will secure the stability of the company for years to come. Neville and I are delighted to be expanding the board to reflect this next phase of growth for MTW Architectural and welcome Joanne and Michael as directors.”
Dow Schofield Watts’ Corporate Finance team comprised Roger Esler, Matt Spence, and Mike Barker. MTW Architectural was also advised by Dan McCormack at Lupton Fawcett LLP (legal), and Russ Cahill at Tax Advisory Partnership.
Dan McCormack, Partner at Lupton Fawcett, said: “This is a great result for MTW Architectural and all of its employees. The founders have built a first-class business with support from a top-quality team. This is the perfect time for the company to broaden the ownership and the leadership team whilst it being very much business as usual.”
Roger Esler, Corporate Finance Partner at Dow Schofield Watts added: “The objectives of MTW Architectural and its founding shareholders made the EOT route compelling for the business. The continuity in leadership and inclusion in future valuation creation will ensure stability, independence and incentivisation, together with preserving the entrepreneurial spirit of the company.”
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