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Azets has provided deal advisory services and tax advisory services to Leeds Galvanising Holdings Limited as it has transferred its entire shareholding to its 80-person workforce through an Employee Ownership Trust (EOT).
The firm’s team consisted of corporate finance partner Tariq Javaid, tax senior manager Karen Sadler, corporate finance manager Richard Weston, and corporate finance executive Patrick Cree.
Yorkshire-based LGPC was established in 2009 by Michael and Simon Kelly as a small local galvaniser, growing organically to become what is described as the largest galvanising and powder coating plant in the North of England.
Under the stewardship of Kelly the company has grown revenues from around £6m in 2019 to £10.4m in 2023, differentiating itself as a premium offering in the market by diversifying and investing in its service offering.
Simon Kelly is remaining as managing director of the business following the EOT.
Kelly said: “LGPC has always been passionate about its people and they have been unswerving in their loyalty and commitment to the business. This EOT is just reward for their hard work and talent and the key role that they have played in making LGPC the success it is today as the largest business of its kind in the north of England.
“Transferring the company into employee ownership also ensures its values and culture live on for the next phase of its growth and means that we can look forward to an existing future together.”
He added: “My thanks go to Azets and Mills & Reeve for their advice and expertise throughout the process.”
Javaid said: “LGPC is a tremendous business which has built its success on high-quality expertise. It is well suited to employee ownership with a distinctive family culture and strong values as well as a deeply committed and highly experienced team of employees.
“It has been a privilege to work with Simon and assist in the transition of LGPC to an EOT ownership structure, which places the business in a confident position for future growth.”
Azets has three offices in Yorkshire, in Leeds, Bradford and York, where it employs 334 people.
