FRP’s Corporate Finance team support global law leader SSQ on transition to Employee Ownership Trust
Case Study
FRP deliver employee ownership for SSQ
Published:
11 May 2022
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Background
Global Law Talent, trading as SSQ, is an international group of companies providing leading legal search and recruitment consultancy services, through eight subsidiaries operating from 11 offices located across Europe, Asia, Africa and the Middle East. Founded in 2003, the London-headquartered group works with law firms and leading brands within commerce, industry and financial services. SSQ placed third in the Recruiter Hot 100 Companies 2021 index, and is the most consistent recruiter in the top echelons of the index over the past decade. Following a restructure, the shareholders wanted to explore their options for the business, and instructed FRP as lead advisers.
Action
FRP’s Corporate Finance team worked with the SSQ executive management to explore all the available options. Having reviewed and considered the various possibilities, it was clear that implementing an Employee Ownership Trust (EOT) would deliver the desired outcome for shareholders. It would also provide stability and a platform for continued growth for the company, and enable its c.90 employees to share in the potential financial rewards that an EOT structure facilitates and promotes.
Outcome
Our Corporate Finance team carried out a strategic review before designing the deal structure, creating a comprehensive financial model, drafting the Heads of Terms, and preparing a detailed share valuation for the directors and the Trustees of the EOT. The successful transaction provided an important milestone for the future of SSQ, creating an opportunity for continued growth and success of the business under a new ownership model.
The successful transaction creates an opportunity for continued growth and success of the business under a new ownership model.
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