Sanctuary Project moves to new owner model

An accommodation and support provider has switched to a new ownership model. 

The Sanctuary Project has become an employee ownership trust.

Officials say the move will take the venture “into the next exciting stage of its development”.

Under the terms of the agreement, former owners Debbie and Mark Clough will remain with the business for around five years.

Based in Wakefield, The Sanctuary Project provides accommodation and support for 16 to 25-year-olds leaving care; family supported living for expectant mothers, parents and babies; and help with education and employment.

Its facilities also include shared houses and flats for young people to transition into independent living.

Director Debbie said: “Launching and building The Sanctuary Project over the past two decades has been the most rewarding experience of my life.

“Together, our passionate and committed team have helped hundreds of young people realise their potential and lead fulfilling and happy lives.

“The time is now right to hand the company to its employees and let the management team take it into the next exciting stage of its development.”

Accounting and advisory group Azets provided deal and tax advisory services, with Ward Hadaway overseeing legal advice.

Tariq Javaid, Azets corporate finance partner, added: “It has been a privilege to support Debbie and Mark in the sale to an employee ownership trust.

“It will allow the management team to take the business forward and create long lasting legacy.”

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