Contractor lays foundations for EOT future

A long-established building contractor has transitioned to employee ownership as part of a succession plan designed to safeguard its future and preserve its independence.

Corporate finance boutique fds has advised Knox & Wells on its move to an employee ownership trust (EOT), placing ownership of the business in the hands of its employees.

Established in 1888, Cardiff-based Knox & Wells provides construction services and has built its business around long-term client relationships and a team-focused culture.

The transition forms part of the succession strategy of shareholders Guy Leach and Huw Leach, who sought a structure that would protect the company’s legacy while recognising the contribution of its workforce.

Under the EOT model, employees will have a stake in the future success of the business, while Knox & Wells will retain its independence and existing culture.

The transaction was led by Poonam Kaur, chief executive of Wakefield-headquartered fds, which has expertise in employee ownership and succession planning.

She said: “It has been a privilege to support Knox & Wells on this significant milestone.

“The business has a proud heritage, an excellent reputation and, most importantly, a dedicated team that has played a vital role in its success.

“We are proud to have worked alongside Guy, Huw and the wider team to deliver a transaction that protects what makes Knox & Wells special while positioning the business for continued growth and success.”

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