Smith and Williamson has advised specialist rail industry services provider CCS Group on its transfer of ownership to an Employee Ownership Trust (EOT).
The shareholders have transferred 100% of the business to an EOT, in a move aimed at securing the long-term future of the group and “enabling their staff to benefit in the future growth”.
Smith and Williamson worked with the exiting shareholders and the new management team to deliver the employee ownership transfer.
Brian Livingston, head of mergers and acquisitions at Smith and Williamson led the transaction, supported by Stuart Goodman and Joseph Sherry in corporate finance, and John Manis and Oliver Dewdney in business tax.
CCS Group is a multi-disciplinary managed support services provider to the rail industry. It offers services including track maintenance and renewals, facilities management, critical resource training, construction and civil engineering, and welding to London Underground Limited, Transport for London, Docklands Light Railway and Network Rail, all of whom CCS Group is a Tier 1 contractor to.
Livingston said: “This is yet another EOT transaction the Smith and Williamson has completed, reinforcing our position as one of the leading advisors in this space for owner-managed businesses.
“We hope that under employee ownership, the group will continue to achieve strong growth under the stewardship of the new management team.”
Simon Miesegaes, CCS Group, said “This structure enables the business to continue as usual, focusing on growth and our employees. We decided to work with the Smith and Williamson team because of their proven experience with EOT transactions and advising owner-managed businesses.
“The support the team provided throughout this transaction was crucial in ensuring a successful outcome was achieved.”