Law firm advises owners on trust transition

Geldards has advised a materials handling equipment supplier on its transition to employee ownership.

The firm recently helped the owners of Heanor-based Rollstore on its transition to an Employee Ownership Trust (EOT).

Rollstore is one of the UK’s largest suppliers of materials handling equipment, supplying products to companies across a diverse range of industry sectors.

Having grown and nurtured the business over the past quarter of a century, the owners wanted to find a solution that would enable the legacy and integrity of the business to continue when they stepped away.

They decided the move to an EOT, handing ownership of the business over to employees to be managed by a trust, would be the best solution to safeguard employee jobs, ensure the business could continue to operate from its current site, and maintain the integrity and continuity of the firm for the future.

Paul Feenan, a partner at Geldards, who led the deal, said: “It’s been a pleasure to work closely with the owners and we are delighted that Rollstore has transitioned to become employee-owned, giving the employees a stake in the future of the business.

“It was certainly the right decision for their business, and we wish them well for the future.”