Corporate Finance monthly newsletter

Dear All 

Here are some highlights of what the CF & M&A team have been up to since our last update, along with a feature on our Employee Ownership Trust offering to clients.   

 Welcome to Chris Theobald 

Last week we were delighted to welcome Chris Theobald to the team as our new Corporate Finance Director. You can read more about Chris’ role and background here: Welcome to Neil Ford and Chris Theobald – Affinia Marketing Blog 

Affinia, London Stock Exchange & Natwest client event 

We are very excited to be partnering with the London Stock Exchange and Natwest for the launch of LSE’s Private Intermittent Securities and Capital Exchange System (PISCES). 

What is PISCES? 

PISCES is a new type of private stock market that will give investors more opportunities to buy stakes in growing companies. LSE are introducing a set of rules for PISCES platforms, which connect buyers and sellers of shares in private companies during intermittent trading events.  

Companies using a PISCES platform can control: 

• When their shares may be traded. 

• Who can buy their shares. 

• A floor and/or ceiling price for their shares. 

• Who gets information about the company or any transactions in its shares. 

Our event 

This will be held on October 2nd at Natwest owned Drummonds Bank’s private dining facility. We’ll be inviting a select number of our largest clients who this may be of interest to, and LSE will provide information on the new stock market. Watch this space for more information but if you have any clients who you feel may be interested in attending, please contact Adam Croft to discuss. 

Ask the Experts: An M&A Masterclass Orpington & Sidcup 

Next stop on our M&A Masterclass roadshow will be Orpington & Sidcup, where our event will be held in conjunction with Clarkson Wright Jakes solicitors on September 17th. If you have any clients who you feel may be interested in attending, please reach out to Carly Haines so that an invitation can be sent.  

🌟 Spotlight on Services: Employee Ownership Trusts (EOTs) 

As part of our commitment to helping clients plan for the future of their businesses, we offer expert support in the implementation of Employee Ownership Trusts (EOTs) — a powerful succession planning tool that can also drive employee engagement and long-term business sustainability. 

What is an EOT? 

An Employee Ownership Trust is a structure that allows a company to transfer ownership — either partially or fully — to its employees. This can be an attractive route for business owners looking to exit while preserving the company’s legacy and rewarding the workforce. It’s also a way to foster a more inclusive and motivated company culture. 

Why consider an EOT? 

EOTs offer a number of benefits, including: 

• Tax advantages: Sellers may benefit from a Capital Gains Tax exemption on the sale of shares to the EOT, and employees can receive income tax-free bonuses (up to a certain limit). 

• Business continuity: EOTs can provide a stable succession plan that avoids the disruption of a trade sale or private equity buyout. 

• Employee motivation: Ownership can increase employee engagement, productivity, and retention. 

However, EOTs are not a one-size-fits-all solution. There are specific qualification criteria and structural considerations that must be assessed to determine suitability. 

How we support our clients

Our team has successfully guided several businesses through the EOT process. Our role typically includes: 

• ✅ Initial feasibility assessment – Helping clients understand whether an EOT is the right fit for their business goals and structure. 

• 🧩 Transaction structuring – Advising on how the EOT will be set up, who will act as trustees, and how governance will work post-transaction. 

• 📄 Collaboration with legal advisers – Working closely with the client’s legal team to ensure all documentation is in place and compliant. 

• 💰 Valuation services – Providing a robust and defensible valuation of the business to support the transaction. 

• 🏦 Funding support – Where needed, assisting with sourcing and structuring finance to fund the EOT purchase. 

How you can help 

If you work with clients who are considering succession planning, employee engagement strategies, or tax-efficient exit routes, an EOT could be a valuable option to explore. By understanding our EOT offering, you can help identify opportunities to cross-sell this service and add real value to client relationships. 

That’s all for this month. Please reach out to Stuart Sheldrick, Adam Croft or any of the team if there is anything you’d like to discuss.