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Business advisory firm Quantuma has advised on the sale of A.B.C. Glass Processing Limited (ABC), a bespoke glass processing specialist, to an Employee Ownership Trust (EOT).
Established in 1999, Portsmouth-based ABC Glass Processing is among the leading bespoke glass manufacturers and glass suppliers in the South of England. From its 20,000 sq ft factory, ABC offers a wide variety of products and services, ranging from glass cutting and processing, to balustrades and glass splashbacks.
The business has a circa £5m turnover and has built a reputation within the glass industry for providing high-quality products to its customer base.
The transaction was delivered by Quantuma’s Corporate Finance director Philippa Robinson, manager Richard Hill and assistant manager, Darra McCarthy-Paul.
Tax support was provided by MD Holly Bedford from Quantuma’s sister company K3 Tax Advisory. The collaborative partnership ensured that compliance with regulations was achieved, in order to secure a tax-efficient deal for the vendors.
Philippa Robinson, director at Quantuma, said: ”It has been a pleasure working alongside the ABC team on this transaction. The shareholders were keen to ensure that their loyal staff could be a part of the company’s future and selling into an EOT structure has allowed them to do just that. I wish the team and the exiting shareholders all the best in the future and I look forward to seeing how the business grows.”
Ian Sawyer, director at ABC, added: “As a close-knit family business at heart, with an ethos grounded in service and quality over quantity, we decided that an EOT was the right option to carry the company forward for the long-term benefit of it and its employees and for the exit of the current owners. In this journey we were very grateful for the unwavering support of the Quantuma team led by Philippa Robinson.
“We are also very appreciative of the legal teams involved whose advice was invaluable. The process was undertaken in volatile market conditions, but successfully concluded.”
