Darke & Taylor’s managing director Simon NewtonAn Oxfordshire electrical and mechanical engineering firm has completed its transition to an employee-ownership model, with support from
FRP Corporate Finance. Based in Long Hanborough,
Darke & Taylor designs, installs and maintains a variety of building services including electrical, mechanical and energy solutions. For over 65 years it has worked in the built environment across London and the South East helping main contractors and project managers to construct and refurbish, and the landlords, owners and tenants to manage and maintain their buildings, which include high quality residential, commercial offices, educational establishments and science and technology labs.
The business has now established a new Employee Ownership Trust to hold the shares on behalf of its employees, marking the start of its transition to a 100% employee-owned model. This move has been taken to secure the long-term independence of the business and preserve its values by putting its people at the heart of its future growth plans.
A team from FRP Corporate Finance, led by partner James Cooper and director Matt Field and supported by assistant manager Lydia Kelsall, was appointed by Darke & Taylor to manage this transaction. The team provided initial strategic, financial and tax advice, enabling the business to ascertain whether employee ownership was the right ‘fit’ for the business. Once a decision was made to proceed, the FRP Corporate Finance team provided independent share valuation services, financial modelling, and further tax advice to ensure a smooth transition for the business to its new ownership model.
James Cooper, partner at FRP Corporate Finance, said: “We are seeing more businesses take the employee-ownership route as they look to reward the people who have put time and effort into their success, while also wanting to secure their long-term future. Darke & Taylor is renowned as a trusted building services partner, and this transition will empower its people to build on its growth history while retaining the passion and values that have made it the success it is.”
Simon Newton, managing director at Darke & Taylor, said: “When considering the long-term future of Darke & Taylor, we wanted to make sure that any decision we made recognised the hard work that our staff put into the business every day. It soon became clear that employee ownership was the best way to achieve this, and thanks to the valuable support provided by the team at FRP Corporate Finance our employees can now benefit directly from the growth that they are driving.”