Tuesday, May 11, 2021

News: Rotherham firm sold to employee-owned trust


Build-Lite (UK) Ltd, a Rotherham-based supplier to the construction industry, has sold the shares in the holding company to an employee-owned trust formed for the benefit of the company's 15 strong workforce.

The company, which was incorporated in 2012 and is based at Thurcroft, develops, manufactures and supplies a range of innovative building products and creative architectural mouldings. In March 2019, Build-Lite (UK) Ltd was awarded the British Board of Agr̩ment (BBA) certificate for Future Found Рits UK-manufactured revolutionary insulated foundation system.

The company’s construction materials significantly reduce build-time, improve the carbon footprint and reduce handling and storage costs. They also offer a range of fast-track building products to provide cost-effective solutions to many of the commercial, financial and environmental challenges encountered by architects and developers in their construction projects.

Build-Lite (UK) Ltd used Sheffield-based firm Mackenzie Spencer, who offer a complete transaction service which incorporates both corporate finance and corporate legal advice and is led by Chris Sellars and Samantha Sellars.

Paul Goodlad, Director and former majority shareholder of Build-Lite (UK) Ltd and Architectural Decorative Facades Ltd, said: “Following a recommendation from our existing accountant, using Mackenzie Spencer to cover all the financial and legal matters ensured the transaction was completed quickly with all appropriate advice provided by one company. This was extremely helpful when you are busy trying to keep the day-to-day business going through the sale process.”

Paul remains a director of the companies and has also become a director of the newly formed trustee company to assist the new employee group and provide support to the new Managing Director that Build-Lite are looking to appoint.

Paul added: “The success and growth of Build-Lite (UK) Ltd and Architectural Decorative Facades Ltd would have been impossible without the contribution of our employees. Succession planning is always at the forefront of our thinking and we felt confident that this was the right step for us. We are now looking to build a new management team to drive forward the business whilst rewarding all employees for all their efforts in getting the company to this stage.”

Chris Sellars, Managing Director of Mackenzie Spencer, said: “Following getting to know both Paul and Trevor throughout this process, we are delighted to have assisted them in their exit. Whilst not appropriate for all companies, the desire that Paul and Trevor had to reward and empower the staff that have helped them grow Build-Lite meant it ticked a lot of boxes for them. We are sure that under the new ownership, the company will continue to thrive with a truly engaged, motivated and collective workforce all reaping the benefits of that success.”

The trust was advised by the Leonard Curtis legal team, led by Jonathan Roberts and Jennifer Moore.

Build-Lite (UK) Ltd website

Images: Build Lite


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