International legal practice Osborne Clarke has advised Power Electrics on its transition from a privately owned business, to an Employee Ownership Trust (EOT).
This exciting development marks a significant milestone in the company’s long-standing commitment to its people, customers and suppliers.
Effective immediately, Power Electrics will be fully owned by its employees through the EOT structure. This will position the company for continued success and growth while safeguarding its core values, brand reputation and culture.
This move to employee ownership ensures that Power Electrics’ most valuable asset – its people – are at the heart of the company’s future. The transition provides employees with a stable and resilient future at Power Electrics and will help the company continue to grow.
The Osborne Clarke team was led by Head of Incentives Michael Carter and included Corporate Partners Simon Smith and Dave Ferris, Corporate Senior Associate Hannah Maidment and Incentives Associate Maryam Khalifa.
"We were delighted to be part of helping Power Electrics move to become owned by the EOT and secure the future for all stakeholders in Power Electrics."
"It has been a pleasure working with Osborne Clarke on this transition . Their expertise was pivotal in navigating to employee ownership. The team provided invaluable support throughout the process. We extend our thanks to them for ensuring a smooth process that puts our people at the centre of the company’s future”.
Power Electrics’ customers will continue to receive the same great service they have come to rely on. The shift to employee ownership enhances our ability to meet and exceed customer expectations with an even more dedicated workforce.
The decision to transfer ownership to an Employee Ownership Trust reflects Power Electrics’ long-term vision of growth, sustainability and innovation. This guarantees continuity, with the same leadership team overseeing the company’s operations, while empowering employees to play an active role in shaping the business's future.
By securing the future of the business under employee ownership, the company is well-positioned to continue leading the way in the temporary power industry, providing sustainable, cutting-edge solutions for its customers.
A proud family company with a dedication to safety, innovation, and customer service. Power Electrics has grown from a small yard in 1963, to operating out of several locations across the country, including the UK's largest purpose-built generator depot. Power Electrics has a fleet of over 2,500 generators, containing Battery Energy Storage (BES) units and Stage V sets, as well as the UK’s largest generator transport fleet.
Osborne Clarke specialises in advising EOTs and in transitioning companies to an EOT. EOTs were introduced in 2014 and qualify for special tax-favoured treatment provided certain legislative conditions are met. EOTs do not involve direct share ownership by employees, but instead a controlling interest in a company is transferred to an all-employee trust which is then held for the benefit of employees.
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