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FRP Corporate Finance has advised Bath-based hospitality recruiter Catering Services International on its transition to full employee ownership.
The company, which has operated for more than 35 years and runs 11 regional offices across the UK, has established an Employee Ownership Trust (EOT) giving staff a direct stake in the business.
The move secures the firm’s independence and is intended to preserve its culture and long-standing focus on client service and staff development.
FRP’s team, led by partner Mark Naughton, director Matt Field, associate director Freddie James and executive Emma Wade, acted as lead adviser on the transaction.
The firm supported the creation of the trust, including valuation, structuring and negotiations, and provided specialist tax advisory and clearance support.
Naughton said employee ownership was becoming an increasingly popular succession option for business founders.
Catering Services International provides recruitment services to the hospitality industry, working with a wide range of businesses from independent venues to major hospitality groups across the UK.
He said: “Catering Services International has established itself as a trusted partner to the hospitality sector over the past three decades, and this transition will allow the company to preserve the culture of collaboration that has made it successful as it continues to grow.”
Andrew Berman, managing director of Catering Services International, added: “Our people have always been at the heart of our success, so it felt natural that they should benefit directly from the value they help create.
“With the help of Mark, Freddie and Matt and the team at FRP Corporate Finance, we’ve been able to put in place a structure that protects our independence, rewards our employees and positions us for the next chapter of growth.”
