News & Updates

WJM Advises Sharles CA on Employee Ownership Trust

2nd February 2024

WJM Advises Sharles CA on Employee Ownership Trust

Wright, Johnston & Mackenzie is delighted to announce the successful completion of its advisory role in Sharles Chartered Accountants' transition to employee ownership at the end of 2023.

Sharles Chartered Accountants, a well-established firm with a 60-year legacy in Lanarkshire, has been a cornerstone in the local business community.

Recognising the importance of preserving the firm's history and future-proofing its operations, the partners at Sharles CA made the strategic decision to transition to an employee ownership trust structure.

The formal transfer of shares to the trustees of the employee ownership trust took place on November 17 last year, marking a significant milestone in Sharles' journey towards a more inclusive and employee-focused business model.

The business was advised by WJM partner Colin Millar, who commented: “WJM played a crucial role in advising on this landmark transaction, intending to achieve a fair and balanced outcome for both exiting shareholders and employees.

"Given the complex nature of this transaction, we were delighted to advised Sharles CA in this pivotal transition to employee ownership.

“WJM remains committed to facilitating innovative and strategic solutions for our clients, and we congratulate Sharles CA on this forward-thinking initiative."

The information contained in this newsletter is for general guidance only and represents our understanding of relevant law and practice as at February 2024. Wright, Johnston & Mackenzie LLP cannot be held responsible for any action taken or not taken in reliance upon the contents. Specific advice should be taken on any individual matter. Transmissions to or from our email system and calls to or from our offices may be monitored and/or recorded for regulatory purposes. Authorised and regulated by the Financial Conduct Authority. Registered office: 302 St Vincent Street, Glasgow, G2 5RZ. A limited liability partnership registered in Scotland, number SO 300336.