fds Advises Pearce Construction on Employee Ownership

3 June 2024 |
by Rachel Gill

Pearce Construction, based in North Devon, is a leading construction company with a rich history dating back to 1946. The Company specialises in building high-quality executive and family homes throughout Devon, Cornwall, and West Somerset and also provides traditional contracting services.

With 78 years of experience, Pearce Construction is renowned for its commitment to exceptional craftsmanship and high-quality materials in its homes. The Company is dedicated to supporting the local community, which is echoed in its 85+ directly employed workforce.

With an ethos of progression and empowerment in the Company, the former shareholders embarked upon employee ownership as the best succession route to reward the existing team, provide ongoing job security, and preserve the DNA and culture.

Paul Knox, Managing Director and former shareholder, comments: “A trade sale was undesirable for us given the risks associated with brand and culture changes and the possible closure of our head office. A transition to EOT ownership avoided those risks. Upon meeting Jo and Poonam, we immediately knew we were in safe hands. Their experience in this field is first-class, and the transfer of ownership was completed in three months.”

Poonam Kaur, CEO of fds, advised the shareholders on transitioning to an employee-owned business. Poonam comments: “We are thrilled to have supported Pearce Construction's transition to an employee ownership trust. It's a great way to preserve the company culture that has been built to date and reward the staff for their loyalty. Key criteria for the former shareholders was to provide job security, and this route removes any disturbance which could be experienced via a trade sale."

Being a fellow employee-owned business, fds recognises first-hand the value of transitioning companies to an employee ownership trust and has supported and advised many EOT deals since transitioning itself back in 2020. fds solely provides services to owner-managed and employee-owned businesses, supporting them on their business journey from the early stages through to a successful exit.

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