Fieldfisher's Employee Ownership Solutions Team has been advising clients for about thirty years on many EO structures before 2014. 

Our work grew heavily following now retired leading partner Graeme Nuttall’s report, ‘The Nuttall Review of Employee Ownership  ’, which led to the UK Government passing the legislation implementing the current use of employee ownership trusts (EOTs).

Now more than a decade later, the employee ownership team has formed an extensive understanding from supporting some of the most high-profile employee buyouts in recent years   – offering not just expertise on the legal and tax landscape, but evidence driven insights of what it takes to deliver Great EO. 

Examples of the clients we’ve worked for include:

  • QUINTESSA – our first EOT under the new legislation (and possibly the first EOT).
  • WATG – our first US-based EOT.
  • ALFORD HALL MONAGHAN MORRIS – an early adopter and a top 10 AJ firm of architects.
  • RIVERFORD – delivering EO in a veg box and the first deal completion televised on breakfast TV!
  • WINCH DESIGN – a design boutique and the most stylish EO we have ever advised on.
  • TTP – one of our largest with 1100 shareholders and complex structuring.
  • MAPP – a recent deal and our first venture into property management.
  • ZAHA HADID – a deal which attracted media coverage for a very high-profile business with a worldwide brand.
  • 3BM – the first spin out of a public business into a mutual joint venture.
  • SSQ – acting for a legal recruiter, a new sector for the team, kept them on their toes!
  • WOLFGANG DIGITAL – our first Irish (and most recent) EOT.

Fieldfisher recently celebrated EOT's tenth anniversary in style. Click or tap here for our extended commentary and key facts and figures.

The team offers personalised EO solutions for founder / owners and the business and is backed by a full service law firm with a network of offices across Europe and three UK and Irish bases in London, Dublin, Manchester, and Birmingham.

In Our Words – What We Do and Why

“We pride ourselves on our practical, no-nonsense advice, backed by our deep understanding of the complex legal requirements and more than ten years of advising on employee ownership transactions. 

“In this time, we have seen most of the permutations of employee ownership, but we continue to learn and be curious, and focus on continuously improving our offering to react to changes in the market.

“We are passionate about employee ownership as a business model and this passion has helped to drive legislation, research and insights to support employee ownership to grow in the UK and beyond. 

“We have navigated on some of the most high-profile and complex employee buyouts in recent years to pave the way for more businesses to become employee owned across the UK by submitting and sharing worked examples. 

“We also work with clients who are looking at hybrid ownership models (maintaining a form of direct equity participation for employees) and those with more complex structuring needs, including cross-border issues.”

What Does This Look Like – Our Recipe for Great EO

  1. Make sure that there’s "purpose" at the heart of what you do.
  2. Ensure EO works at all levels of the business – founders, management, and employees.
  3. Focus on delivering engagement.
  4. EO should be collaborative, not "top down".
  5. EO is a long-term business model, not a stepping stone for something else.
  6. Businesses are unique and one size does not necessarily fit all – be creative!
  7. Look at alternatives and make sure EO is best for you.
  8. Transitioning to EO is just the start of the journey – evolution takes time and energy.
  9. Plan, plan, and plan again – implementation is just the tip of the iceberg.
  10. Don't forget the bigger picture – EO is part of a wide set of interrelationships and interactions and will have an impact on stakeholders outside of the organisation. 

Some practical steps to get started:

  1. Look at your culture – are you and your employees ready for EO?  Talk to other EO organisations, explore, and consult. Identify stakeholders and communicate key messages.
  2. Consider financing - carry out financial modelling to ensure that the sale of shares to an EOT is affordable.  Do you want to borrow from a bank? Is there enough headroom to pay bonuses to staff at the outset?
  3. Trust your management – invest in your management team and encourage them to give leadership and energy to sell the message and make EO a success!
  4. Get the design right – trust your instincts – you will know which model works best for you.
  5. Get proper advice – the tax rules are complex so it pays to get specialist advice.
  6. This is the beginning - the hard work starts once EO has happened – use your vision and enthusiasm to build from Day 1.

We support thousands of employee owners to engage with their companies as owners. This includes:

  • Training for Trustee & Company Directors on their roles and responsibilities
  • Advice and support on employee voice and engagement
  • Expert advice on reward in EOBs, including design and implementation of share schemes such as Enterprise Management Incentives (EMI) and Share Incentive Plans (SIP)
  • Ownership and Governance Reviews for mature EOBs 

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Contact Us

Dial: 0330 460 7000

Email: Click or tap here

Visit: www.fieldfisher.com