Law firm advises Denby Campervans on transition to employee ownership

Beswicks Legal’s corporate team has supported Staffordshire-based Denby Campervans to create an employee ownership trust, giving staff a stake in the business.

The project, led by corporate partner Peter Ellis and supported by associate Rebekah Jones, saw a partial sale of equity in the business to the trust established for the benefit of all employees.

Use of such trusts is an increasingly popular option for successful owners who are looking to exit their business but are keen to ensure a secure future for the business and its employees.

Ellis said: “We were delighted to act for Denby Campervans on their transition to employee ownership. This is a successful business employing 25 people whose owners, having grown the operation over a 15-year period, wanted to change the ownership model to enable employees to fully share in that success.”

Castle Square Finance led the fundraising process which resulted in Shawbrook Bank being appointed as the funding partner, releasing value to enable owner Jonathan Downing to realise his succession planning objectives.

Ellis added: “The employee ownership model is a very effective means to embody and build on a business’s culture, by allowing employees to benefit in the business’s future success.”