Prettys advised on the sale of the entire issued share capital of Haydn Evans Consulting to its employees through an employee ownership trust

The three owners of Haydn Evans Consulting wanted a solution which allowed them to cash out by selling the entire issued share capital, but remain involved in the business, whilst also providing for the employees of the business to take more of an active role in the direction and ownership of the business going forward.  The sale to the EOT facilitated this.

The transaction involved the setting up of a trust for the benefit of the employees of Haydn Evans Consulting, as well as a company limited by guarantee to act as trustee of the trust, and then facilitating the sale of Haydn Evans Consulting Group Limited, a non-trading holding company of the engineering company, Haydn Evans Consulting Limited to the trust for an undisclosed sum.

Prettys provided support and advice throughout the process through its Corporate Services and Employment teams led by Dan Billson – Partner, Corporate Services.

  • Drawing up a six-week timetable towards completion.
  • Creation of the trust and preparation of the trust deed.
  • Incorporation of the trustee company.
  • Preparation of tailored articles of association for the trustee company and each group company.
  • Preparation of the sale agreement and associated documentation.

This transaction proved to be a solution for the owners of Haydn Evans Consulting that they hadn’t considered when they first decided to sell the business. The outcome has exceeded their expectations, particularly in relation to the future of the business which they care about very much.   From the priorities of what the sellers wanted to achieve, the existing culture of the business and reception from employees since the transaction was announced. This transaction was a significant step towards safeguarding the independence and future of Haydn Evans Consulting.  

Prettys worked with the Corporate Finance team at Scrutton Bland, led by Luke Morris and supported by James Thurkettle.  

The Prettys’ home team led by Dan Billson with Sarah Lewis, Zoe Zhang (corporate services) and Sheilah Cummins (employment).

Haydn Evans logo

A word from the client

“We would like to take this opportunity to thank the team at Prettys and Scrutton Bland for all their hard work and expert advice, that has allowed us to reach this point.”

James Calvert, Haydn Evans Consulting