MHA’s ethos of encouraging our people to work collaboratively in support of our clients has seen our corporate finance and tax teams support a Manchester and London-based design group become employee-owned.
TSK, which was founded in 1995 has provided office fit-out services to some of the UK’s most recognised businesses including MoneySuperMarket, Siemens, Kellogg’s, Ticketmaster and Adidas, and has made the move to employee ownership.
The move comes as part of founders Iain Holden and Andrew Burns’ strategy to achieve continued success and long-term growth, continuing to build on their 100 employees across two offices in Manchester and London and turnover in 2024 at £56m.
Our teams advised the shareholders of TSK on a valuation of the business, structuring the transaction, and obtaining the necessary tax clearances.
Iain and Andrew will continue to lead the interior design and fit-out company with the day-to-day operations, whilst the employee ownership trust board will be chaired by John Shinnick who has nearly 40 years of experience in the professional services sector and has experienced TSK’s office fit-outs firsthand.
Iain Holden, chief executive, said:
"We have built an exceptional team of talented people at TSK who are as excited as we are for the future.
“The transfer to employee ownership is a great way to directly involve our people in taking the business to the next level and sharing directly in our success. It also provides the platform for seamless succession over time.”
David Hackett, Tax Partner, MHA said:
“At MHA we care about our clients and the impact they make, so we are delighted to have supported the team at TSK on their journey to employee ownership.”
“The steps they have taken to become employee owned, will yield significant long-term benefits, uniting everyone with a common goal to achieve success.”
Find out more information on Employee Ownership Trusts and how MHA can help you benefit from a tax-advantaged structure here.
