Client Story

Care group becomes employee-owned after expert guidance from Corporate team

27th November 2023

Bayford New Horizons Group recently looked to transfer five of their Bluebird Care branches into employee ownership trusts – giving their employees greater control over where the company goes next.

In order to do this, they contacted Head of Corporate in Cheltenham Tim Ward for specialist advice. Tim and the team, working with business advisers Hazlewoods, helped the 229 carers across Chichester, Epsom and Kingston, Reigate, Sussex Weald and Sutton divisions become shareholders in the company.

EOTs are seen as a preferential solution for business owners who are looking to exit but don’t want to sell to larger corporates. Tim worked with the business owners to advise on the tax implications and drafted the governing documents of the EOT, including articles of association, share purchase agreements and a trust deed to outline the powers of the EOT.

Paul Barry, Bluebird Care franchisee, said: “Tim Ward and the corporate team at HCR showed their expertise and deft judgement throughout the process. I’d like to thank them for their continued support from start to finish.

“The process was explained clearly, and we knew the team were only a phone call away if we needed them.”

Tim said: “Transitioning to an EOT can be difficult for business owners, but the benefits are numerous – particularly when it comes to tax breaks and employee retention. I wish Bluebird Care Group the very best for the future.”

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