Engineering consultancy firm Futureserv becomes employee owned

Engineering consultancy Futureserv is set to join a growing number of employee-owned businesses across the UK as it announced that its team of over 60 employees have taken a stake in the business , transferring ownership to an Employee Ownership Trust (EOT). The trust will hold the shares on behalf of the company’s employees, with its founders, Craig and David Cleary, retaining a minority stake.

Founded in 2010, Futureserv is a construction services design and consulting firm that provides mechanical, electrical, public health and vertical transportation consulting to construction, facilities and real estate professionals across all industries. built environment.

Over the past decade, the company has grown significantly. In 2014 it opened a second office in Old Hall Street, Liverpool, where it now has 20 staff, and in 2018 opened its first office in Leeds, where it now has 14 staff.

Azets, led by Jenny Pape and Tim Mills with support from Amy Braithwaite, provided tax and financial advice to the founders of Futureserv, while Napthens lawyers Keith Melling and Victoria Bromiley provided legal advice on the transfer of ownership . HSBC provided a senior credit facility to support the transaction.

Craig Cleary, Founder of Futureserv, said, “Today marks a new chapter in Futureserv’s history. Since our first recruits joined the company, we’ve retained a real sense of family within Futureserv, so it’s a natural next step in our journey to transition to employee ownership.

“This model gives everyone the opportunity to be involved in the future of the company and to feel a real sense of belonging to Futureserv, from our staff to our partners and customers. I would like to thank our management team and all of our staff, as well as Napthens, Azets and HSBC, for their support throughout this process.

Dave Cleary, Founder of Futureserv, said: “Over the past 12 years the growth of the business to over 60 employees across three locations has been incredible, the new structure both provides a succession plan and opens clear opportunities for career progression.

“I would like to congratulate all of our colleagues at Futureserv for reaching this very important milestone and especially thank our advisors for helping us along the exciting journey to becoming an employee-owned company.”

Jenny Pape, tax partner at Azets, said: “Futureserv is an exceptionally well-suited company for employee ownership, being an organization with a strong culture, firmly established values ​​and a focus on the quality of its collaborators. It has been a privilege to help Craig and David through this important transition and I am confident the company has a bright future as an employee-owned business.

By Marc Adair – Correspondent, Bdaily

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