Birketts assist specialist building contractor with employee ownership remodel
22 October 2021
Birketts has assisted specialist building contractor Fullers (Builders) Limited (Fullers) in its transition to an employee-ownership model for an undisclosed sum.
A specialist building contractor, founded by Edward Fuller in 1872, Fullers provides conservation, repair and restoration services for buildings of historic interest. Operating from its Walthamstow offices, Fullers has been managed by the same family over its entire 145 year history.
Run by a team of 45 employees, many of whom joined the company as trade apprentices, Fullers is proud to boast five generations of experience. Fullers’ craftspeople combine traditional skills with modern techniques to ensure they can offer stylistic integrity whilst remaining compliant with current building standards. In addition to having an in-house joinery that enables the production of a range of bespoke items, the business is proud to use sustainably sourced timber and sympathetic materials such as naturally hydraulic lime, wherever possible.
Birketts team was co-led by Lisa Hayward (Partner, Head of Employee Incentives) and Heidi Bond (Senior Associate, Corporate), with support from Jessica Kilkelly (Solicitor, Corporate).
Rickard Luckin acted in relation to the valuation as well as providing additional financial and tax advice.
Company Director, William Fuller, commented: “Fullers has an unrivalled reputation for quality and is proud to have established trading relationships that span more than half a century. Because of the specialised nature of our business, none of this would have been possible without the hard work of our employees and we are delighted to have this opportunity to reward those who have made the company what it is. Our heartfelt thanks go to Birketts whose thorough approach, excellent client service and professional attitude has made all the difference. We are very grateful for their efforts across the project.”
Lisa Hayward, Partner and Head of Employee Incentives at Birketts concluded: “Fullers prides itself on its family feel; protecting this legacy and all of its cultural advantages is paramount. We don’t doubt that this move to employee ownership will do exactly that whilst securing succession and enhancing employee wellbeing. It has been a genuine pleasure for us to be part of the advisory team assisting Fullers with this remodel. We wish the Fullers team all the very best as they enter this new chapter.”
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Lisa Hayward
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Heidi Bond
The content of this article is for general information only. It is not, and should not be taken as, legal advice. If you require any further information in relation to this article please contact the author in the first instance. Law covered as at October 2021.