Kick-start publishing passes ownership to an employee ownership trust with help from Cripps

Kick-Start Publishing Limited, a reputable publisher focusing on the contract flooring and tiling sectors, has passed into 100% employee ownership via an Employee Ownership Trust (EOT).The move means that the whole company is now owned by trustees for the benefit of its staff who will have a direct say in the destiny of the business, as well potentially benefitting from the tax advantages an EOT ownership model offers.

Established in 1999, Kick-Start Publishing own market leading titles Contract Flooring Journal (CFJ) and Tile and Stone Journal (TSJ). CFJ and TSJ are highly regarded by their readers and are the official magazines of the Contract Flooring Association and The Tile Association.

The multidisciplinary Cripps team, which was led by Katie Haylock and included Lorraine Reynolds, Sabrina Kaur Rekhi, Clare Savory and Nicola Hillyer, advised on the full breadth of the legal aspects of the acquisition by the Trust including in relation to establishing the employee trust completing the purchase and working closely with Stuart Williamson of Evelyn Partners on the financial and tax aspects of the deal.

The business will continue to be led by managing director, Stuart Bourne. Commenting on the support provided, John Heath, former owner of Kick-Start said

“Cripps have been Kick-Start’s legal advisors for the past 25 years so it was a natural decision to engage the Cripps team to organise the sale. Setting up an EOT is a quite complicated process with a multitude of legal documents which if not handled correctly could be completely overwhelming. Fortunately Katie, Lorraine and the rest of the team were on top at every stage, advising and explaining legalese in a straightforward and uncomplicated way which made the whole process run without a hitch or angst from a shareholders perspective.I would like to congratulate Cripps on an exceptional service and would not hessite to recommenced the team to anyone undertaking an EOT.”

Katie Haylock added, “We have had the pleasure of working with John and his team at Kick-Start Publishing Limited for over 20 years and are delighted to have advised and supported them on the transition to employee ownership.”

Find out more information about the benefits and practicalities of setting up an Employee Ownership Trust.