Vehicle collection company, Grosvenor Credit Management & Investigations (GCMI) has been sold to an Employee Ownership Trust (EOT).
GCMI is a specialist vehicle logistics company, which was established in 2004 to provide vehicle leasing companies with outsourced services, including vehicle collection, asset recovery, process serving, enforcement and tracing of customers.
Ben Lee, founder and sole shareholder of GCMI, realised the majority of his investment and will remain Managing Director of GCMI to provide continuity to his customers and ongoing support to his team. Meanwhile, Lisa Pugh and Nigel Jackson will join Lee on the Board of the TrustCo, acting as trustees of the EOT.
The sale of shares to an EOT is a transformative step that empowers employees by providing them with beneficial ownership of the company, aligning their interests with the long-term success of the company and ensuring an exciting future for the business. Well-known examples of EOTs include Richer Sounds and Aardman Productions (producers of Wallace and Gromit). By embracing this employee-centric approach, Leee is keen to build on GCMI’s culture of collaboration, innovation, shared responsibility and shared rewards.
The transaction was delivered by Quantuma’s Corporate Finance experts Managing Director Adrian Howells, Manager Richard Hill and Assistant Manager George Fawcett. The team was supported by Daniel Sladen, Managing Director and Dominic Lay, Associate Director from Quantuma’s sister company, K3 Tax Advisory, and Managing Director Karl Holmes of K3 Debt Advisory, who secured third-party funding from Allica Bank.
Ben Lee, Founder of GCMI said “This moment marks a significant milestone in our journey, and I want to express my heartfelt gratitude to our incredible team and customers who have supported us on this journey. I am pleased to continue working alongside the team to deliver GCMI’s strategy.”
“I would like to extend my appreciation to the Quantuma and K3 team, who provided exceptional deal support and invaluable guidance in delivering the transition to an employee-owned model.”
Commenting on the successful sale, Adrian Howells, Managing Director at Quantuma said “We are delighted to have delivered this transaction for Ben and his team. Employee ownership is gaining recognition as a powerful model for sustainable growth, as well as delivering a tax-efficient solution for exiting shareholders.”
We commend GCMI’s forward-thinking approach in embracing this strategy. We firmly believe that shared ownership will only enhance employee engagement and motivation, supporting GCMI’s continued success in the years to come.”