Law firm advises on employee ownership transition

Law firm Geldards has advised a company on its successful transition to becoming employee owned.

Pipe Tool Specialists provides pipe tools, security products and technology to tradespeople in the plumbing, pipefitting and welding industries, with trading sites in Lincoln and Manchester.

When director Steve Stefaniuk decided it was time to step back from the business after almost 30 years at the helm, he decided to hand ownership to Pipe Tool Specialists to his staff by way of an Employee Ownership Trust (EOT) – while retaining a role in the company as managing director.

Geldards’ corporate team advised Pipe Tool Specialists on the transition.

Tax partner Andrew Evans led the deal, advising on all legal aspects of the transaction, supported by partner Debra Martin and solicitor Sophie Henwood.

Andrew said: “It was a pleasure to work with Steve and the team at Pipe Tool Specialists to guide them through the transition to employee ownership and assist in securing the future of the company. ”