fds has advised Armcon Limited on its transition to an employee ownership trust. Armcon, based in Stockport, is Europe’s leading volumetric mixer specialist, manufacturing and supplying to the construction industry. Armcon founder and CEO Robert Armstrong believed an employee ownership trust would be the best option to secure the company’s future growth and continued success.
Robert commented: “As part of protecting Armcon’s legacy and propel it into a new, independent era where international markets could be explored, I thought an EOT would be the best route to make that viable. Armcon has a brilliant new managing director onboard in addition to an experienced team, and I believe Armcon’s future is very bright.
The full offering, headed by fds and their partners, was instrumental from initial advice regarding employee ownerships right through the whole process of it being implemented. This, alongside ensuring a comprehensive communication plan was put in place for the team, was invaluable.”
Poonam Kaur, CEO of fds, led Armcon’s transition to becoming employee-owned, having first-hand experience as fds became employee-owned in 2019.
Poonam Kaur commented: “This is a very exciting time for Armcon, and we were thrilled to assist Robert in the company’s transition, whilst being able to share our knowledge and own experiences in employee ownership trusts. The employees in the business now have a real opportunity to develop and contribute to the success and longevity of the business whilst having ownership via the EOT. This is a great outcome for Armcon to secure the company’s succession and look ahead to the next 30 years of business.”
Introduced in 2014, an employee ownership trust (EOT) involves selling the business to a trust set up for the benefit of employees– the staff are given a stake in the company, a share in the profits and indirect ownership. fds is proud to share that it has successfully advised Armcon on transitioning to an employee ownership trust.
Understanding the employee ownership process can seem overwhelming, but fds is here to help with a full employee ownership solution, drafting specialist tax and legal advice from trusted partners in the industry. Please get in touch to learn more about our service and have a confidential discussion.