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FRP Advisory’s corporate finance team has advised business support group, YTKO, in its transition to employee ownership.
Established in 1978 as a privately-owned consultancy business, YTKO’s existing management team is set to stay under the new structure, as the deal sought to “preserve the independence of the business while enabling all colleagues to share in its future success”.
YTKO, which is spread through seven regional offices across the UK, has helped more than 70,000 businesses and raised over £100m in funding while supporting the creation of more than 17,000 jobs.
As lead advisors, FRP provided share valuation and financial modelling services toward the EOT transition.
The FRP team, led by partner James Cooper, director Matt Field and assistant manager Lydia Kelsall, also provided tax advice on the sale of 100% of issued share capital to the new EOT.
Cooper said: “In recent years, we have seen more and more business owners begin to appreciate the benefits of the employee ownership model, which offers an increasingly attractive succession route and can effectively drive employee engagement and business performance.
“We have developed a deep knowledge and expertise of employee ownership, which enabled us to advise the Directors and shareholders of the business to achieve a solution which is a great fit for YTKO.”
Bev Hurley, chief executive of YTKO, added: “After a lifetime running businesses and building YTKO Group to 100+ people and £7.5m turnover, I thought carefully about various exit and succession options for some time. Establishing an EOT was the best way to ensure that our values endured for the next 40 years.
“FRP were outstanding, not just in terms of their expertise but in how they supported us – swift and practical replies, often out of hours, great availability by phone and teams, a super attitude, and a real team effort. I would absolutely recommend them without reservation.”
