Leading manufacturers and suppliers of jewellery and precious metals, Hockley Mint Limited and its associated companies, have recently been sold to an employee ownership trust (EOT) in a deal facilitated by Jerroms Miller Specialist Tax with legal support provided by The Wilkes Partnership LLP and Higgs LLP.
The EOT has acquired 100% of the shares in the business, with Hockley Mint’s employees becoming beneficiaries of the trust. This move is expected to bring a range of benefits to the company and its employees, including increased employee engagement, greater resilience, and a sustainable future for the business.
The Hockley Mint group has been owned and operated by the same family for over 70 years. Following careful consideration, the family decided that an EOT is the best way to secure the long-term future of the business and to provide continuity for its loyal employees.
“We are delighted to announce the sale to an employee ownership trust, which will ensure that our business will continue to operate in the same spirit that has made it successful for over three decades” said Ian Merrell, former owner of the Hockley Mint group.
Gary Wroe, current Managing Director of the Hockley Mint group added: “We believe that this is the best way to safeguard the future of our employees and to create a sustainable future for the business.”
The deal was led by Jerroms Miller Specialist Tax who advised all parties throughout in terms of inheritance tax, trust work, company tax and future tax efficiency with the support from a team of expert lawyers from The Wilkes Partnership LLP, who advised the EOT on the transaction, and Higgs LLP who acted for the Vendors.
“We are pleased to have been involved in this transaction and to have helped facilitate the transition of Hockley Mint group to an employee ownership trust” said Gareth O’Hara, Senior Partner at The Wilkes Partnership LLP.
“Employee ownership is becoming an increasingly popular way for business owners to secure the future of their companies, and we believe that this is a positive move for the Hockley Mint group and its employees” comments Christie Nelson, Solicitor at The Wilkes Partnership LLP.
The new ownership structure will enable Hockley Mint group to continue to invest in its workforce, products, and services while ensuring that the business remains competitive and sustainable in the long term.
This transaction represents a significant milestone for both the Hockley Mint group and the wider employee ownership sector. It highlights the growing recognition of employee ownership as a viable and attractive option for business owners who want to secure the future of their companies and create value for their employees.