Leading law firm Thrings has supported patient focussed pharmaceutical and biotech consultancy Acaster Lloyd in transitioning to an Employee Ownership Trust (EOT), helping the business to secure its future in the hands of the people who drive its success.
The business was founded a decade ago and specialises in providing leading pharmaceutical and biotech companies with bespoke solutions to tackle their patient centred evidentiary needs to support drug approval and access decisions. The move marks a significant milestone, ensuring the business’s long-term independence and preserving the culture and values that have underpinned its growth.
Acting for Acaster Lloyd’s founders Sarah Acaster and Andrew Lloyd, and the company, on all legal aspects of the deal was Thrings’ award-winning Corporate team, led by Partners Elaine Meyrick and John Richardson, and supported by Solicitors Bethan Shepherd, Alex Baugh and Angela Shandacumar with Private Client Partner Ben Coulson advising on the succession planning elements of creating the EOT and Partner Natalie Ward providing employment advice.
The team worked closely with business growth advisors Chalkhill Blue, and accountants DSA Prospect, as well as Wilsons Solicitors who acted for the EOT.
Sarah Acaster and Andrew Lloyd, co-founders and former majority shareholders of Acaster Lloyd, said: “Moving to an Employee Ownership Trust felt like the natural next step for the business. Our success has been built on the hard work and dedication of our team, and this transition structure ensures they share directly in the rewards of that success, while providing long-term stability for our clients.
“We are delighted to have had the support of Thrings throughout this complicated process. We want to thank Elaine, John and the team for their advice and hard work throughout, it certainly provided us with the clarity and confidence that this was the right step for the business.”
Elaine Meyrick, Partner in Thrings’ Corporate team, added: “We are pleased to have supported Acaster Lloyd in this big step towards a new future. They are an excellent business with a strong management team, and we look forward to seeing their success continue. We also want to wish both Sarah and Andrew all the best for the future.”
Thrings’ Corporate lawyers are experienced in advising business owners and leadership from start-ups to multinational firms on all stages of the business life cycle, getting to know your business and its objectives, challenges and unique needs, to advise you in a way that helps you reach your commercial aims. Get in contact to find out how they can help you achieve your objectives.