Could you take value out of your business by selling it to your staff? And why would you want to? Intelligent Finishing Systems (IFS), a supplier of print finishing and bindery equipment to printers, have done just that, thanks to the knowledge, support and guidance of Avondale Corporate.
IFS supply finishing equipment to the print sector in the UK and Ireland and are also the exclusive distributor of Horizon quick-response automated systems. The business is central to driving change and efficiency in the print market with state of the art equipment.
Managing Director Bryan Godwyn and his team have created a culture based on a positive working environment for all staff, great customer service and high brand awareness.
Recognising that it was time to step back from the business, it was this ethos that Bryan and his co shareholders wanted to leave as a legacy for the business. Knowing this, rather than facilitate a ‘trade sale’, Avondale planned and led a sale of the company to an Employee Ownership Trust (EOT).
Avondale provided all financial modelling, secured debt and project support.
The final transaction was a transfer of 100% of the existing shares of the business to a new trust company that will hold the shares on behalf of all employees. The sale structure enabled the shareholders to realise the full value of their shares, and the team to create a more purposeful, employee-driven organisation. Two of the three shareholders remain as directors of the business whilst Bryan has joined the board of the trust company to continue to share his expertise and insights.
“Many thanks for your fantastic help and support re getting this deal done. I very much thank you for all your help to me personally as this is a very emotional journey for me.”
Bryan Godwyn, Managing Director Intelligent Finishing Systems Limited