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Our client was ready to retire and had decided that passing the business onto his management team was the right move for him. He wanted to ensure the continued success of his business yet offer a deal that was affordable for the management team. We helped him achieve both.
How? Our tax consulting team developed a strategy that initially required significant depletion of the company’s reserves by maximizing pensions, salary sacrifices and dividends over the following seven years.
We then set up a new holding company and an employee share trust. At every stage, we worked closely with our client’s lawyers.
We are delighted with the result. We ensured that no tax was paid on the deal and to this day, the company continues to flourish. Our client (the former owner), the management team and all the employees are happy with the outcome – a great example of a successful MBO.
