Security provider Sonic Alarm Systems has completed an Employee Ownership transaction (EOT), which will see the majority of the share equity become owned by a Trust on behalf of its employee base.
The decision to transfer the majority of share equity to an Employee Ownership Trust was driven by a desire to safeguard the company's long-term future while rewarding the loyalty and hard work of the team who have made Sonic Alarm Systems the respected company it is today, the firm said.
Peter Regan, Director at Penarth-based Sonic Alarm Systems, said:
“We looked at a number of succession strategies and when Employee Ownership was mentioned, and we considered the benefits to the team, and legacy of the business, it just felt like the right way to say thank you. The engineers, the office team, the people who represent Sonic out on the road every day – they are the business. This gives them security and a voice in what comes next.”
The Employee Ownership Trust structure sees the business' leadership team remaining in place.
Christine Regan, Director, added:
“We are so pleased to have found a route that rewards our staff. When you’ve worked somewhere for most of your life, it’s not just a company, it is people, families & shared history. This is not the end of anything, it is the start of a new chapter with plans to grow and invest in our people”.
The transaction was managed and delivered with the support of GS Verde (an AAB Group Company) who advised across all elements of the process, including deal structure, legal documentation, corporate finance, and tax advisory.
