Fds Advises Armcon Ltd On The Transition To Being An Employee-Owned Business
11 February 2021
Armcon Ltd, 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, Managing Director at 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 EOTs. 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.”
Fds offers a full employee ownership solution, drafting in specialist tax and legal advice from trusted partners in the industry.
Keebles LLP’s Corporate team, led by Partner Paul Trudgill and supported by Senior Associate James Burdekin, were the legal advisors on the transition.
Paul Trudgill said: “We were delighted to provide legal advice to Robert in Armcon’s transition into becoming an employee-owned company. This type of transition has become more common over recent years and is a structure that will give Armcon’s employees a real opportunity to shape the company’s long-term vision and success.
I expect Armcon will continue its growth within the construction and manufacturing sector and I look forward to seeing the company progress over the coming years.”