Fieldfisher has advised Knowles Associatesin its transfer to become an employee-owned business.
Company founder, Colin Knowles has transferred 100 per cent ownership of the business to its 54 employees through an Employee Ownership Trust (EOT). The transition, announced on Employee Ownership Day 2020 (26 June), also included the acquisition of Ensure UK Ltd, providers of fleet insurance mediation and accident management services.
The reason behind the decision to become an EOT was to secure a sustainable future for the business and crucially, to retain independent status which has been a major factor in Knowles Associates’ success.
Providing employees with a stake in the company also aims to further strengthen staff commitment, enhance performance and boost innovation to achieve superior results.
Essex based Knowles Associates was established in 1990 and has grown to become a major provider of fully inclusive fleet management and benefit services to over 115 NHS and public sector organisations across England, Scotland and Wales.
Fieldfisher’s team was led by Mary Erb (Picture), partner, in Manchester.
Involved fees earner: Mary Erb – Fieldfisher;
Law Firms: Fieldfisher;
Clients: Knowles Associates;