TLT advises the global leader in Glassfibre Reinforced Concrete equipment manufacturing on transition to employee ownership

UK national law firm, TLT, has advised Bristol based specialist manufacturer, Power-Sprays, on its transition to employee ownership.

Power-Sprays is the global leader in the manufacture of specialist Glassfibre Reinforced Concrete (GRC) production equipment which is used on construction projects in over 100 countries to create GRC components for architectural projects such as facades, cladding and precast structures.  

The transition to employee ownership secures Power-Sprays' legacy, while helping the company maintain its unique culture, which has developed organically over more than 60 years since its founding in 1962.

The move to employee ownership will also see Managing Director, Ian White, step back from day-to-day duties, while continuing to support the business as a director in an advisory capacity, guiding the company into the future from a more strategic position.

TLT provided legal advice on all aspects of the creation of the Employee Ownership Trust and the transfer of the Power-Sprays group into employee ownership. The deal was led by Partner Ben Watson and supported by Associate, Olivia Curtis.

Ben Watson, Partner at TLT, commented: “We were delighted to be able to assist Ian and the team at Power-Sprays on their transition to employee ownership.

"Employee Ownership Trusts have become increasingly prominent, offering a range of advantages for sellers including cultural preservation and increasing employee engagement. Despite recent changes to the capital gains tax relief available on the sale of a company to an EOT, we expect to see many more of these transitions in the coming year.”

Ian White, director at Power-Sprays added: “TLT has been extremely helpful throughout the process of transitioning the Power-Sprays group into employee ownership. Ben and Olivia have guided us through the legal steps with clarity, offering constructive advice wherever and whenever required.

“I would not hesitate to recommend TLT to any small business owner considering their exit via the establishment of an Employee Ownership Trust.”

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