Leading law firm Bircham Dyson Bell (BDB) has advised the founder-shareholders of Cambridge Design Partnership (CDP), a leading technology and product design consultancy, on the transferring of ownership to an employee ownership trust. The value of the transaction was not disclosed.
Based in the heart of the Cambridge technology cluster, CDP also has an office in Palo Alto in Silicon Valley, California, servicing a growing portfolio of US clients. The transition to an employee ownership model reflects the firm’s ambition to build a sustainable business which engenders staff loyalty by incentivising successive generations of employees. Michael Beadman, Michael Cane and Matthew Schuman are the founder-shareholders of CDP.
Bircham Dyson Bell’s role in this matter confirms its position as an established adviser in the field of employee ownership trusts. Hollie Gallagher and James Stephen were the lead partners from BDB in the transaction, supported by legal director Toby Richards-Carpenter.
James Stephen, partner at BDB, comments:
‘We were delighted to support the founder-shareholders on this transaction and wish all the staff of CDP every success moving forward in an era when they all have a direct stake in the business.’
Mike Beadman comments:
‘As a technology consultancy business, CDP recognised that people were the real value in the company and the key to future growth, so transferring ownership to the employees was the most logical progression.
For the clients of CDP, the employee ownership trust demonstrates the commitment of the company to independence and the long-term relationships that fuel their success.
The team at BDB provided unbiased, well-considered advice to the three founders and addressed our concerns and requirements to structure the employee ownership trust such that our interests are well aligned with CDP and we can continue to build the company’s reputation and success.’