TLT advises UK Electronics on transition to employee ownership

TLT advises UK Electronics on transition to employee ownership

Douglas Roberts

TLT has advised Greater Manchester-based UK Electronics on its transition to employee ownership (EO). TLT’s Edinburgh-based corporate partner Douglas Roberts led the deal, supported by senior associate Nimarta Cheema.

UK Electronics, whose premises are in Royton, Oldham, specialises in the manufacture of high-quality electronic assemblies, providing a high quality, cost-effective service to customers who choose to outsource their PCB’s electronic design, manufacture, assembly and test requirements.

TLT provided legal advice on all aspects of the creation of the employee ownership trust and the transfer of the UK Electronics group into employee ownership.

Neil Carr, director at UK Electronics said: “Upon deciding to step away from the business, it was extremely important to Ian and me to find a way to recognise the hard work and efforts of all the employees at UK Electronics who have been instrumental to its growth and success. We’re extremely grateful to the team at TLT who shared their employee ownership experience with us and helped us understand how it could work for UK Electronics.”

Mr Roberts said: “It was a pleasure to get to know Neil, Ian and their team and the business throughout this transaction and to help them achieve their goals. UK Electronics is ideal for employee ownership and the staff now have an amazing opportunity to maintain the success of the business. We have seen an increase in interest in the EOT model, reflective of business owners increasingly looking at succession models that will benefit both employees and the legacy of the company. I expect we will see many more companies selling to EOTs in the future.”

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