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The team led by partner Graeme Nuttall OBE, author of the influential Nuttall Review of Employee Ownership, advised Beta Valve Systems Ltd on its move to employee ownership.
Founded in 1983 and headquartered in Desborough Park Road Beta Valve Systems Ltd specialises in the supply of solenoid valves for the control of water, air, oil in fact most common fluids. The company is now entirely owned by an Employee Ownership Trust (EOT).
Graeme was supported by corporate partner, Neil Palmer, senior associate Jennifer Martin and associate Janice Houghton.
Founder, Ian Sparrowhawk, now a trustee-director, said:
"Transitioning to an employee ownership model allows us to preserve and build on the legacy of three decades of work by our team. Employee ownership provides an assurance of continuity to our customers, suppliers and employees. We also anticipate other benefits from being co-owned in terms of attracting and retaining talented individuals in the future. "
Deb Oxley, CEO Employee Ownership Association, said,
"We would like to congratulate Beta Valve on their transition to being an employee owned business who are being assisted in their journey by EOA supporter member Fieldfisher. This is a perfect example of succession planning where a company has empowered its staff by giving them a real stake in the business and in doing so securing the future of the company, the clients, the products and the brand."
Graeme Nuttall OBE added:
"Beta Valve exemplifies why employee ownership is a neat succession solution. By moving from family to employee ownership this specialist solenoid supplier will continue to provide local employment and keep its customers satisfied. Founder, Ian Sparrowhawk had seen how other businesses were restructured following sales to larger concerns and wanted to avoid this. A sale to the trustee of an employee ownership trust provided an obvious alternative, which rewarded him and his family, whilst ensuring Beta Valve continues as a local employee-owned independent business. I am confident Beta Valve's example will lead to an increased flow of more local manufacturers and distributors into employee ownership."