Benchmark International is delighted to announce the successful sale of Essex-based Knowles Associates and Ensure UK, to an employee ownership trust (EOT).
Established in 1990, Knowles Associates is a fleet management provider, implementing company car schemes for the NHS and public sector clients UK-wide.
The transition also included the acquisition of Ensure UK, providers of fleet insurance mediation and accident management services.
Founder Colin Knowles has transferred 100 per cent ownership of the company to its 54 staff.
The acquisition aims to secure a sustainable future for the business and retain its independent status which has been a major factor in Knowles Associates’ success.
Providing employees with a stake in the company also aims to further strengthen staff commitment, enhance performance and boost innovation.
Colin Knowles said: "Having considered all options for the future of the business, empowering our employees and directly involving them in the company’s growth was the next logical step in our evolution.
"Establishing an EOT means Knowles Associates can maintain its all-important independence and, therefore, its impartiality and strong values, whilst creating the opportunity to pass the company on to the next generation of business talent."
WE ARE READY WHEN YOU ARE
Call Benchmark International today if you are interested in an exit or growth strategy or if you are interested in acquiring.
Europe: Michael Lawrie at +44 (0) 161 359 4400 / Enquiries@BenchmarkIntl.com
Americas: Sam Smoot at +1 813 898 2350 / Smoot@BenchmarkIntl.com
Africa: Anthony McCardle at +27 (0) 21 300 2055 / McCardle@BenchmarkIntl.com
ABOUT BENCHMARK INTERNATIONAL
Benchmark International’s global offices provide business owners in the middle market and lower middle market with creative, value-maximising solutions for growing and exiting their businesses. To date, Benchmark International has handled engagements in excess of $6B across 30 industries worldwide. With decades of global M&A experience, Benchmark International’s deal teams, working from 13 offices across the world, have assisted hundreds of owners with achieving their personal objectives and ensuring the continued growth of their businesses.