Lifestyle Appliances transfers ownership to their staff via an Employee Ownership Trust

Lifestyle Appliances Limited, a leading supplier of outdoor patio heaters, firepits, BBQs and other alfresco living products, is thrilled to announce the transfer of ownership to their staff through the establishment of an Employee Ownership Trust.

Founded in 2001, Lifestyle Appliances initially focused on gas patio heaters and has since expanded its product range to cater to both domestic and industrial customers. The company takes pride in its dedicated team, which provides exceptional customer service and after-sales support.

With the business’ foundations built on strong, team-driven ethos and culture, the sole shareholder decided on an Employee Ownership Trust when considering his exit options to reward employees and preserve the business’ legacy. The sale was conducted at full commercial value, with Avondale overseeing the entire process from valuation, feasibility study and HMRC clearance through to coordinating legal aspects and establishing the trustees.

Sold to an Employee Ownership Trust

“Can I thank Avondale for your help and guidance through the complex process of completing the EOT, which I believe will secure the future for everyone at Lifestyle Appliances. The manner in which you brought the elements together demonstrated the really professional approach Avondale has in guiding clients.”    

Frank Spencer, Lifestyle Appliances