Wed, 29 Apr 2020 | BUSINESS SALE
Simon Morray-Jones Architects, a prominent firm based in Bath and operating across the UK, has been sold to an
employee ownership trust. The deal was supported by Castle Corporate Finance.
Established over 30 years ago by Simon Morray-Jones, the Bath-based firm is renowned for its work renovating and remodelling listed and historic UK buildings. It has worked on numerous Soho House Group properties, Andrew Brownsword Hotels and the Newt in Somerset.
With a team of 20, Morray-Jones had recently began to explore options for stepping back from the business. While discussing various strategies with Castle Corporate Finance, a sale to an employee ownership trust (EOT) was mentioned.
An EOT is a sale framework that is gaining popularity with businesses who would rather not sell to another firm in their industry. For Morray-Jones and his wife Berni, the option allowed that to realise the value of their business, while handing it over to their trusted team and remaining on hand for a time to ensure a smooth transition and to help train those being handed management responsibilities.
Victoria Ansell, director at Castle Corporate Finance, said: "We are seeing many business owners look at the option of an EOT, some of whom look at 0 per cent tax as being the main driver, but it really doesn’t work that way.”
"Simon and Berni embraced this framework as being the right thing for their team, as well as for them, and that gives me a lot of confidence that the business will go from strength to strength."
The firm’s most recent accounts, to the year ending July 31 2019, show it holding fixed assets of slightly over £21,000, with current assets of around £1.4 million and net assets amounting to over £1.2 million.
Find businesses for sale here.
If you are looking for an exit, we can help!
The company was founded in the 1990s, having built since then an outstanding reputation in the industry. Currently, the business specialises in decorating and maintenance services, spanning across external and internal, commercial and residential, an...
LEASEHOLD
The business designs contemporary and highly functional office interiors offering a turnkey solution for clients throughout the UK.
The business specialises in wet room installations, particularly for local authorities and has been established for circa 45 years.
LEASEHOLD
29
|
Sep
|
Bristol law firm acquired out of administration | BUSINESS SALE
A law firm based in Bristol has been sold out of administrat...
29
|
Sep
|
Midlands accountancy secures PE backing for M&A growth drive | BUSINESS NEWS
Midlands accountancy firm BK Plus has secured investment fro...
28
|
Sep
|
UK MarTech acquires B2B marketing platform out of administration | BUSINESS SALE
Jabmo, a business to business (B2B) account-based marketing ...
14
|
Nov
|
Scale manufacturer taken over in MBO | MBO/MBI
Weighing scale manufacturer Marsden Weighing Group has been ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.