Beever and Struthers advises Optimum Coatings on EOT move

Beever and Struthers has advised Morecambe, Lancashire-based Optimum Coatings, on becoming Employee Owned.

Optimum Coatings has been sold by its owners to its 71 employees through the creation of an Employee Ownership Trust (EOT) which purchased 100% of the company’s shares.

Optimum has developed into a one-stop shop offering complex prescription Rx lenses, advanced speciality lenses, free-form lenses, coating, and glazing services.

This new business structure ensures that every employee-owner shares in the rewards of their hard work and contributes to the company’s future success.

The Beever and Struthers’ team led by corporate finance director Dean Curtis provided corporate finance advice including valuation, assessment of funding options, tax clearance and deal structuring.

Paul Bailey and Mark Marland, Optimum directors, said: “We deeply value the talent and dedication of our team members. That’s why we’ve embraced this change to acknowledge their hard work in a meaningful way. Our employees now have a stake in the company through trust, solidifying our commitment to long-term success and sustainability.

“We see this change as an incredible opportunity for growth and innovation. As an EOT company, we anticipate heightened employee engagement and productivity, resulting in even better service for our customers. This move also guarantees the stability of the company, safeguarding the interests of both our employees and valued clients.”

Curtis added: “Employee Ownership Trusts have become increasingly popular as an exit route for business owners. The EOT structure offers a route for businesses to preserve their independence and culture, as well as maintaining the integrity of the business. It has been a pleasure to support Paul, Mark and the rest of the Optimum and we wish them all the best for the future.”