Design and contracting specialist switches to employee ownership
A company specialising in the design, fabrication and installation of building facades has become an employee-owned business.
MTW Architectural, based in Wakefield, was founded in 2005 by Richard Moore, managing director and Neville Taylor, commercial director.
The £14m turnover business designs, makes and installs the Schuco System, a solution for windows, doors and facades, working with clients such as Galliford Try and Bowmer & Kirkland.
MTW Architectural has now become 100% employee-owned with the founders transferring their shares to an Employee Ownership Trust (EOT).
It is meant to ensure that all the company’s employees will benefit financially from the future success of the company.
Moore and Taylor will remain in their current roles and continue to be directors. They will be joined on the board by Joanne Abbott, financial director and Michael Davany, production director.
Moore said: “Selling the company to our outstanding employees through an EOT has felt like the most natural option for the business.
“It is recognition of the fantastic contribution of the whole team to MTW Architectural’s growth and success and will secure the stability of the company for years to come.
“Neville and I are happy to be expanding the board to reflect this next phase of growth for MTW Architectural and welcome Joanne and Michael as directors.”
MTW Architectural was advised by Dan McCormack at Lupton Fawcett LLP (legal), Roger Esler at Dow Schofield Watts (corporate finance) and Russ Cahill at Tax Advisory Partnership (taxation).
McCormack, partner at Lupton Fawcett, said: “This is a great result for MTW Architectural and all of its employees.
“The founders have built a first-class business with support from a top-quality team.
“This is the perfect time for the company to broaden the ownership and the leadership team whilst it being very much business as usual.”
Esler, corporate finance partner at Dow Schofield Watts, added: “The objectives of MTW Architectural and its founding shareholders made the EOT route compelling for the business.
“The continuity in leadership and inclusion in future valuation creation will ensure stability, independence and incentivisation, together with preserving the entrepreneurial spirit of the company.”
