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Quantuma has completed the transfer of Surrey-based The Specialist Blind Co. (SBC) Ltd into an Employee Ownership Trust (EOT).
The firm said that the transfer presents SBC’s staff with “the opportunity to benefit from the ongoing success of this established business, as well as its future growth”.
The transaction was delivered by Quantuma’s Corporate Finance team, led by managing director Adrian Howells and manager Richard Hill.
The team was supported by colleagues from Quantuma’s sister company, K3 Tax Advisory, managing director Holly Bedford and associate director Dominic Lay.
SBC was incorporated in 2000 by Peter and Helen Matthews. The company specialises in made-to-measure blinds, specifically remote-control blinds, and home automation integration.
Peter will continue as managing director of SBC, supported by longstanding employees Cheryl Ede and Sarah Edwards.
According to Quantuma, rather than maximising value by selling to a third-party buyer, Peter and Helen were keen to ensure the company remained in the hands of its employees, “who have supported them in creating a high-quality product offering”.
Similarly, Peter and Helen declined to introduce third-party debt, which can be employed to accelerate payments to the existing shareholders.
Quantuma 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 EOT transaction was delivered in partnership with Stuart Mullins (partner, Clarkslegal LLP) and Jacob Montague (solicitor, Clarkslegal LLP) acting for SBC, and Jeremy Hyde (director, Howes Percival LLP) who acted as the lawyer on behalf of the Trust.
The legal teams worked together to ensure compliance with regulations, secured approval from the FCA for change of control and delivered a tax-efficient structure.
Howells said: “We are really pleased to have delivered this transaction for Peter and Helen and helped them to navigate the transition to an employee-owned model. Employee ownership is becoming more popular than ever, being used increasingly often to empower employees, whilst securing a tax-efficient exit for shareholders, and creating a sustainable base for future growth.
