Hazlewoods is delighted to have advised Red Blaze Ltd, a leading marketing and event management company, on its transition to Employee Ownership Trust (EOT).
Red Blaze, which is renowned for organising a wide variety of event services, such as conferences, product launches, exhibitions, incentive travel programs, and corporate retreats, has been operating in Gloucestershire for a quarter of a century.
Transferring ownership of the business to an EOT reflects Red Blaze’s commitment to its workforce. It recognises the commitment and contribution employees have made to the achievements of the business to date and gives them a stake in the company’s future.
Hazlewoods played a pivotal role in the transaction, providing comprehensive corporate finance advice and specialist tax guidance.
Peter Jackson, a trustee of Red Blaze’s new EOT, said: “For years, our company has been built on teamwork, dedication, and a shared passion for delivering excellence, whether it be a client retreat, incentive travel programme, or corporate social responsibility. As we looked to the future, we wanted to ensure that these values remained at the heart of our business. By transitioning to an EOT, we are securing long-term stability, rewarding our team’s hard work, and fostering an even greater sense of commitment and collaboration.
“We are grateful to Hazlewoods for their exceptional support and expertise throughout this process.”
Rich Grover, Corporate Finance Director at Hazlewoods, said: “We are thrilled to have assisted Red Blaze in their transition to an Employee Ownership Trust and wish everyone involved in the company every success for the future.
“In our experience, this move will not only secure the future of the business and its employees, but it will also increase motivation, as staff share in the success of the business, creating a sense of ownership and pride. We look forward to seeing Red Blaze thrive under this new structure.”
Hazlewoods Tax Director Megan Lewis-Bourke said: “There are many tax advantages to selling your business to an EOT as well as tax-free bonuses for staff. EOTs are a fantastic way of motivating employees while allowing founders to realise value from the business they have created. I really enjoyed working with the team at Red Blaze and wish them all the best for the future.”
As part of the transition long-term employee Gaby Pugh has been appointed Managing Director, Stephen Pope remains as Founder Director, and Peter Jackson has become a Trustee of the Red Blaze Trust. Continue to follow the Red Blaze EOT journey by following their LinkedIn.
If you would like to find out more about planning your business’s next steps, please get in touch with a key contact below.
