BullsEye Superfactors Ltd has been sold to an employee ownership trust with help from specialists at Knights.
The business is a leader in the automotive aftermarket industry and turns over around £17m a year – employing 160 people across South Yorkshire.
The team will now benefit from the business’ ongoing success following the transition to an employee ownership trust in an eight-figure deal financed by Natwest.
Paul Trudgill and Peter Turk worked with BullsEye’s management on forming the trust and guided them through the process, including advising on the funding from Natwest.
Paul advised the business on a management buyout a few years ago, so the formation of the employee ownership trust is the latest activity in a long-term relationship.
Adrian Wesbroom, managing director at BullsEye, said:
“As a family-owned business, we are proud of the legacy we have built over the years and we’re excited about the opportunities that lie ahead as we transition to employee ownership.
“With the funding package and support provided, we are confident this transition will not only safeguard the future of our business but also empower our employees to contribute to and benefit from our ongoing success.”
Paul Trudgill, Partner at Knights, said:
“After advising the exiting management team in the original management buyout several years ago, it was a pleasure to be involved in the transition of the business to its employees as the latest stage in its development.
“We have no doubt this will continue and increase the success of the business in the long-term."