Orbits IT Completes Employee Ownership Trust Deal
Founded in 2010, Orbits IT offers managed IT support and services for small and medium-sized businesses across the UK, with offices in Barry in South Wales, in the West Midlands and the South West. The company's team delivers a full spectrum of IT solutions, including business IT support, cyber security, cloud services, and managed infrastructure.
The decision to move to an Employee Ownership Trust (EOT) structure was taken to safeguard the business's future while recognising and rewarding the contribution of its staff.
The firm said the transaction ensured continuity for both clients and staff, with the business's leadership team remaining in place to oversee operations and continue delivering the high level of service and technical expertise for which Orbits IT is known.
Jim Lewington, Director of Orbits IT, said:
'When we looked at the future of Orbits IT, only the Employee Owned model made sense to us. It sures up our future and maintains the legacy. We have spent 16 years building this company, and we are all fiercely proud of what we have become. It's only right that those who have helped achieve our success should benefit from it. I am excited to continue the journey and see what else we can achieve together.'
The rise in Employee Ownership Trusts reflects a growing trend across the UK, offering an increasingly popular succession option for businesses seeking to preserve company culture, protect jobs, and secure long-term growth. The structure empowers employees to take an active role in shaping the business's future.
The transaction was managed and delivered with the support of GS Verde Group and Cwmpas, who advised across all elements of the process, including deal structure, legal documentation, corporate finance, tax advisory and communications.
Jim added:
'The team at Orbits would like to thank both GS Verde and Cwmpas for their support throughout the transaction, in what is a very exciting time for the business and our employees. We are Orbits IT and the future is bright.'
Cwmpas is the UK's largest development agency for co-operatives, social enterprises, and employee-owned businesses. The Employee Ownership Wales service from Cwmpas is part of Social Business Wales and of the Business Wales family, funded by Welsh Government.
Branwen Ellis, specialist EO Consultant for Cwmpas, said:
'It has been a pleasure supporting Orbits IT with their succession plan, helping the owners get a greater understanding of their options, discussing governance best practice, delivering trustee director training and supporting the employees with their understanding of what it means to them. I wish them all the very best for the future and welcome them to our growing community of employee-owned businesses in Wales.'
GS Verde Group, which operates as a fully integrated multi-discipline advisory firm, specialises in guiding businesses through a wide range of corporate transactions including mergers, acquisitions, management buyouts, investment rounds, and employee ownership transitions.
David Dulieu, Chief Commercial Office of GS Verde Group, said:
'Working with Jim and his team has been an absolute pleasure. From our initial meeting, their desire to look at Employee Ownership as the vehicle they felt was best to reward their staff was clear. The teams across GS Verde were pleased to combine our multiple disciplines of law, finance and tax, and support them in making the deal happen. Congratulations to all involved, and very best wishes for the future.'
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