The corporate team at leading independent law firm Brabners has successfully advised employment training provider Standguide Group on its transition to employee ownership.
Based in Greater Manchester, Standguide has successfully delivered employment, education and health-related services in the UK, providing those services on behalf of the Department for Work and Pensions, Department of Education, NHS, Ministry of Justice as well as mayoral combined and local authorities.
The business was founded in 1990 by George Bains and Phil Slater, with two of its longest-standing employees – Mark Owen-Long (CEO) and Jim Gambles (CFO) – leading a management buyout in 2018. Since then, the co-owners have grown the business from 80 to more than 300 employees.
The transition to employee ownership will allow the management team to maintain an active role in the business and build on this period of growth, maintaining Standguide’s independence while securing a long-term succession plan.
The specialist employee ownership trust (EOT) team at Brabners advised on the sale of Standguide to its newly established EOT, as the firm continues to be one of the most active legal advisors in the EOT advisory market. Brabners has supported on more than 50 EO transactions in the last four years, including Rochdale-based manufacturer Crystal Doors and Manchester architects Jon Matthews Architects.
Mark Owen-Long, CEO of Standguide Group, said: “Above all, Standguide is a people-centric business. Our people have long been at the core of our success. We are a Disability Confident Level 3 Leader and are Investors in People accredited and, as such, the voice of our people is at the heart of what we do.
“We have people working here that have been with us for over 25 years. So, despite several approaches to buy the business, we wanted to ensure continuity for our staff and customers. Brabners introduced us to the option of employee ownership, and we feel it’s the perfect way to preserve the culture and values of the business for the long term. This decision will allow Standguide to grow and prosper long into the future as an independent company, and we believe that employee ownership will herald the start of a new and vibrant chapter in the Standguide story.”
Stephen Hadlow, partner in Brabners’ corporate team, said: “There are so many reasons that employee ownership is the fastest growing business ownership model across the UK, not least because it protects the culture and independence of flourishing businesses.
“We’re delighted to have supported Standguide in its move to employee ownership. Human capital is at the beating heart of Standguide’s business, and the EO model will help prioritise employees’ interests whilst delivering a stable succession plan for Mark and Jim.”
