iGAS Technology Solutions (iGAS), has sold to an Employee Ownership Trust (EOT). The business is a global leader in the design, engineering, and delivery of projects to the industrial gases sector.
Established in 2001, iGAS is a fully independent company, working with all global gas producers and end users to provide leading solutions to all industrial gas projects. The business is focused, dynamic, has a committed team, and has always had a strong ethos and culture for their employees, making employee ownership the ideal exit strategy for the shareholders and a legacy for the business.
The succession plan for the future ownership of the company was delivered by Rob Lee, Brian Turner, David Murphy, Russell Scaplehorn, Andrew Barrett, & Gary Littlewood, the shareholders of the company. The management wanted to ensure that there would be a succession plan that preserved the good name of the company and enabled it to continue its development along the current path. The Trust ensures continuity and is a great reward for the exceptional employees and management team.
The sale to the employees was at full commercial value. Avondale led the whole process of the sale to the Trust from legal, full commercial value, financials, and HMRC clearance through to employee strategy and establishing the trustees.
“We received extremely professional and helpful assistance from the Avondale team as they walked us through the challenging EOT transaction. We highly recommend them for their professionalism and experience in the field.” – Rob Lee, iGas Technology Solutions
UK-based Global leader in the design, engineering and delivery of projects to the industrial gases sector
Employee Ownership Trust