We have advised Team Medical Devices Limited on their transfer to Employee Trust Ownership.
Cambridge based Team Medical Devices Limited (Team) are a medical device design and development consultancy.
Team have transferred control of the company to a new Employee Ownership Trust (EOT). The business has always been owned by those who work in it, meaning the establishment of an EOT is a natural extension to the already existing employee ownership of Team.
Following the staff buy-out of 2014, the transfer to an EOT broadens ownership to all staff and ensures the employee ownership model is sustainable in the long-term. The employee ownership trust model will encourage staff engagement, reward teamwork and the building of value together. In this new model, all employees become beneficiaries of the trust and stakeholders in the business. Importantly this enables Team to have a sustainable employee ownership model, benefitting both staff and clients alike.
The deal was led by our Nottingham based Corporate Partner, Mark Rutherford, assisted by Solicitor, Matthew Flint.