Law firm advises on employee ownership deal

Law firm Geldards has advised a timber buildings specialist on its transition to being employee-owned.

The firm has advised Derbyshire-based Arctic Cabins on its transition to an Employee Ownership Trust (EOT).

Founded 20 years ago by Gareth Parkinson and his wife Virpi, the firm takes inspiration from the Scandinavian lifestyle, which places sturdy wooden shelters, often with a central BBQ, in communities and national parks as refuges to be used by the community.

The trend for homeworking since the pandemic has seen the firm experience a huge surge in demand – and to secure the future of the business, protect jobs and retain skilled employees, Arctic Cabins decided an EOT was the right solution for the business.

Andrew Evans, tax partner at Gelards, who led the deal, said: “It was great to be instructed by Gareth and the team at Arctic Cabins as long-time clients of the firm, and take them through the challenges of a transition to employee ownership.

“The positive feedback from the initial presentation to all the staff and the enthusiasm of the employee trustees emphasised the suitability of Arctic Cabins for employee ownership. I look forward to continuing to work with Arctic Cabins in the future.”