UK commercial glazing & facades manufacturer becomes employee owned

Our employee ownership trust (EOT) team has supported a specialist glazing company that operates within the UK with its transition to employee ownership. This followed a critical restructuring exercise to ensure that the sale could proceed.

Britplas is a leader in the design, manufacture and installation of glazing and cladding systems. It works with the UK’s leading contractors across the healthcare, commercial, residential, science, technology and education sectors.

Protecting a legacy

After establishing the business in 2006, its owners — John Blackwell and Kevin Gorman — worked full-time as hands-on managing directors, successfully growing an established and profitable business.

When reviewing their ongoing and future strategy and considering the succession challenges for the business, they decided to begin transitioning the business onto the next generation of leadership.

John and Kevin were keen to protect the Britplas legacy that they spent years building and wanted to show their gratitude to the employees who helped to grow the business, while providing a sustainable platform for continued future growth.

Restructuring the business before EOT sale

With the original Britplas businesses trading independently, an initial restructuring exercise was needed to establish a unified group structure before the sale to the EOT could proceed. 

Our team — comprising Stephen Hadlow, Mairead Platt and Megan Dent — advised on the transaction alongside KPMG (which provided tax support) and FRP Advisory (corporate finance support). 

The expertise we hold as specialist advisors in the EO sector proved invaluable. We were able to provide strong legal project management and supported the Britplas board through participation in a key presentation on the aims of employee ownership to the wider Britplas workforce.

Empowering employees

John Blackwell — Britplas Managing Director — commented: “The move to an EOT model is a hugely positive step for Britplas and its employees, which now stand at over 100. I’m immensely proud of what our team has achieved and we’re already seeing that by further empowering our employees as stakeholders in the business, we’re helping to promote a strong sense of shared purpose and responsibility which will create a platform for further growth.”

Kevin Gorman — Britplas Chairman — stated: “We’re delighted that 100% ownership will be given to the trust on behalf of our staff, allowing them to share in the future success of the business. We’ve always been committed to fostering a culture of inclusivity, collaboration and shared prosperity. This new chapter represents an immense opportunity for the team and a renewed commitment to our shared values as a business. Ours has been an amazing journey of development and I have no doubt that the company will continue to go from strength to strength.”

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