Birketts, a UK top 50 law firm, has advised South London Timber Company Limited on its sale to an employee ownership trust (EOT). The sale, which completed in autumn 2022, resulted in 100% of the company’s shares being sold into an EOT.
Having been established for over 30 years, Dartford-based South London Timber Company Limited is a leading importer and supplier of the highest quality timber products and sheet materials from certified sources worldwide.
On the sale, South London Timber founder Ted James, said: “The advice Birketts has provided during the entire process of setting up and moving SLT to become an EOT has been superb. They have given a real service and add something which cannot be bought or measured with money, and that is sincerity and integrity.”
The Birketts team was co-led by Lisa Hayward (Partner and Head of Employee Incentives) and Ed Savory (Partner, Corporate) with support from Laura Gray (Associate, Corporate) Abigail Hubert (Associate, Employment), Alex Schaafsma (Partner, Banking & Finance), and Lottie Fletcher (Senior Associate, Banking & Finance).
Chris Jellow and Terry Moore from BDO LLP provided the valuation, tax advice and other general accounting support across the transaction. Ed Savory, Corporate Partner, said: “Advising on the transition of South London Timber into an employee-owned company has been a huge privilege. Ted and his team have encapsulated everything that is fundamental to becoming employee owned approaching this with the right attitude and ethos. We wish SLT all the success going forward in this exciting new chapter.”
Key Contacts
