Orbis advise Broadriver Holdings on its disposal to an Employee Ownership Trust
Orbis Partners have advised Broadriver Holdings on its disposal to an Employee Ownership Trust whilst raising finance from Virgin Money.
The Broadriver Group (“Broadriver”) is made up of 3 trading businesses; Controlaccount Ltd, Sinclair Taylor Management and Datatrace Consumer Services.
As a Group, Broadriver provides a blue chip client base with innovative back office outsourced solutions including Commercial Debt Collection, Cash Management Solutions, Tracing, Intelligence Reporting Services and Property Sector Debt Solutions.
Having developed the Group for a number of years the shareholders engaged Orbis to assist with their succession plans. Ultimately the shareholders decided to sell their shares to an Employee Ownership Trust to maintain stability for the Group while encouraging employee engagement, retention and motivation.
As part of the transaction Orbis sourced finance offers from a number of debt providers, before working closely with Virgin Money to provide cashflow lending facilities.
Orbis have been working with the Broadriver shareholders on their succession plans for a number of years. The Orbis team was led by Partner, Gary Ecob, and Manager, Nick Wall, with support from Liam Hadfield.
Protecting the values and integrity of the company was paramount when the shareholders were considering succession options. Employee ownership offers the best chance to do that for all employees across the group… The team at Orbis have worked tirelessly for the Group throughout the whole of the project and achieved an excellent final result with little deviation from the original brief.
David Harvey, Group MD
Having worked with David for over fifteen years, assisting him in his role leading many different outsourcing companies, I am delighted to have concluded this deal for the shareholders to protect the longevity of the company for the future benefit of all employees.
