Build-Lite (UK) Ltd have sold the shares in the holding company to an employee-owned trust formed for the benefit of the company’s 15 strong workforce.
The Rotherham company, which was incorporated in 2012, develops, manufactures and supplies a range of building products and creative architectural mouldings for the construction industry.
The firm’s directors were advised by Mackenzie Spencer.
Paul Goodlad, director and former majority shareholder of Build-Lite (UK) Ltd and Architectural Decorative Facades Ltd, remains a director of the companies and has also become a director of the newly formed trustee company to assist the new employee group and provide support to the new Managing Director.
Paul said: “The success and growth of Build-Lite (UK) Ltd and Architectural Decorative Facades Ltd would have been impossible without the contribution of our employees. Succession planning is always at the forefront of our thinking and we felt confident that this was the right step for us.
“We are now looking to build a new management team to drive forward the business whilst rewarding all employees for all their efforts in getting the company to this stage.”
Chris Sellars, Managing Director of Mackenzie Spencer, added: “Following getting to know both Paul and Trevor throughout this process, we are delighted to have assisted them in their exit.
“Whilst not appropriate for all companies, the desire that Paul and Trevor had to reward and empower the staff that have helped them grow Build-Lite meant it ticked a lot of boxes for them.
“We are sure that under the new ownership, the company will continue to thrive with a truly engaged, motivated and collective workforce all reaping the benefits of that success.”
The trust was advised by the Leonard Curtis legal team, led by Jonathan Roberts and Jennifer Moore.