Lloyd & Gravell, a Carmarthenshire-based construction contractor which delivers projects across the public and private sectors, has completed an Employee Ownership Trust (EOT) transaction.
Backed by funding provided by the Wales Flexible Investment Fund, managed by the Development Bank of Wales, and advised by GS Verde (an AAB Group Company), Lloyd & Gravell is now 100% owned by an employee ownership trust.
The move to employee ownership was driven by a desire to protect the company’s legacy, ensure continuity and create a structure that rewards the people who have been central to its success of the award-winning construction contractor.
GS Verde (an AAB Group Company) advised on all aspects of the deal including corporate finance, legal structuring and tax.
Incoming Managing Director Rob Charles and exiting Directors Paul Lloyd and Kevin Gravell said:
“The greatest asset of any company is their workforce and we wanted to make sure they had a stake in our future success as they have been central to our growth and achievements. Since establishment our ethos has been to leave a lasting legacy in the communities where we live and work. The Employee Ownership Trust ensures continuity for clients and partners whilst providing security for the entire team.
“This transition marks the beginning of a new chapter for Lloyd & Gravell, with the business well positioned to build on its strong foundations and continue delivering high-quality projects for its clients.”
Arushi Jolly, Investment Executive, Development Bank of Wales, said:
“Our funding secures long term future of the business while empowering workforce to participate fully in the rewards of the business’s future success. It’s a great step forward, underpinning greater employee engagement and keeping jobs in Wales.”
The £500 million Wales Flexible Investment Fund supports Welsh businesses with terms of up to 15 years. Loans, mezzanine finance, and equity investments are available from £25,000 to £10 million.
