BHW is proud to have completed on Fulcrum Automotive’s sale to an employee ownership trust (EOT).
Based in Leicester, Fulcrum Automotive Solutions Limited provides commercial fleet management services to businesses and government organisations.
Formed in 2011 by owners Russell Allen and Claire Curley, the business has grown significantly and now supports several of the highest-profile automotive companies in the UK, including four of the top six fleet companies.
Discussing the decision to become an EOT, Russell said: “We chose to go down the route of employee ownership rather than a traditional business sale because we believe it is the best way to secure the future of the company and its employees. The move to employee ownership ensures that the company remains independent and can continue to thrive.”
BHW senior associate, Cameron Connolly, advised Russell and Claire through the legal process. Tax advice was provided by Jon Kicks and Vicky Tunaley of Dains Accountants.
Cameron commented: “It was a pleasure working with Russell, Claire, Jon and Vicky on Fulcrum’s conversion to employee ownership. This is a significant milestone for Claire and Russell and beginning of the next chapter for the business. I wish them and the company well for the future.”
The company, which employs over 30 people, is now set to continue its growth and success under the new ownership structure. Claire and Russell expressed their satisfaction with the transition. Claire stated: “Fulcrum Automotive was formed with the primary aim of optimising the management of vehicle rental on behalf of major clients. We are thrilled to see the company enter this new chapter. This transition empowers our team to take an active role in the company’s success and ensures that our values and vision are preserved.”
Russell added: “We would like to thank Cameron for his invaluable advice and assistance throughout this process. His work has been exemplary and made the whole experience extremely positive.”
Categorised in: Corporate and Commercial, Deals, EOT, Leicester Solicitors, News
Tags: BHW Solicitors, Business Sale, Company Law, Employee Ownership, EOT, Leicester Solicitors