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News Corporate 26th Oct 2023

Freeths advises Workspace Design and Build on Employee Ownership Trust (EOT)

National law firm Freeths has advised award-winning fit-out contractor Workspace Design and Build on its move to become an employee-owned company, 19 years since its inception.

Workspace Design and Build, established in 2004 by Russell Davis and David Barfield, delivers office refurbishment projects throughout the North-West and Midlands.

Now, the eligible members of staff who work for Workspace Design and Build will own the company due to its transition to an Employee Ownership Trust (EOT). This is an indirect form of employee ownership, where the shares are held collectively on behalf of employees via the EOT.

The Freeths legal team included corporate lawyers Rosanna Brown and Lisa Wallis.

Commenting on the deal, Rosanna Brown said: “EOTs are becoming increasingly popular and Freeths have noticed an increase in businesses considering this structure. We were delighted to be working with Workspace Design and Build again on this exciting next chapter for their business. We look forward to continuing to support Russell, David and the wider team and seeing what the future has in store.”

Russell Davis of Workspace Design and Build added: “We are delighted with the support we have received throughout this process from Freeths. From the moment we first spoke to the team, to post completion discussions, it’s been smooth and timely. We look forward to their continued support.”

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