Fri, 18 Aug 2023 | BUSINESS SALE
A Surrey-headquartered vehicle collection firm has transferred to employee ownership after being sold to an Employee Ownership Trust (EOT). The sale of Grosvenor Credit Management & Investigations (GCMI) to the EOT was described as a “transformative step” for the company.
GCMI, which has a site in Lichfield in addition to its head office in Addlestone, was established in 2004 and provides outsourced services for vehicle leasing companies, including vehicle collection, asset recovery, enforcement, customer tracing and process serving.
Following the sale to the EOT, founder and sole shareholder Ben Lee will remain managing director of the firm to provide continuity and support to the team. Lisa Pugh and Nigel Jackson will join Lee as trustees of the EOT on the board of the TrustCo. Ben Lee commented that the transaction was a “significant milestone” for the company.
The deal was worked on by a team of corporate finance specialists from Quantuma, comprising corporate finance managing director Adrian Howells, manager Richard Hill and assistant manager George Fawcett.
Adrian Howells commented: “Employee ownership is gaining recognition as a powerful model for sustainable growth, as well as delivering a tax-efficient solution for exiting shareholders.”
"We commend GCMI's forward-thinking approach in embracing this strategy. We firmly believe that shared ownership will only enhance employee engagement and motivation, supporting GCMI's continued success in the years to come."
Employee Ownership Trusts are an increasingly popular option for business owners seeking to make an exit - Find out why in this dedicated insight
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