ABC Glass Processing sold in Quantuma advised deal

Portsmouth-based ABC Glass Processing, the bespoke glass manufacturers and glass suppliers, has been sold to an Employee Ownership Trust (EOT).

The deal was overseen by Business advisory firm Quantuma through a team comprised of Director Philippa Robinson, Manager Richard Hill and Assistant Manager, Darra McCarthy-Paul.

A spokesperson for Quantuma said: ''The transaction allows the shareholders to realise the value they have created over the last 20 years and to enjoy their retirement with the comfort of knowing that the structure of the business remains in place for staff and the legacy of ABC can continue.''

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Finances for the deal are as of yet undisclosed.

Ian Sawyer, Director at ABC said: "As a close-knit family business at heart, with an ethos grounded in service and quality over quantity, we decided that an EOT was the right option to carry the company forward for the long-term benefit of it and its employees and for the exit of the current owners.

''In this journey we were very grateful for the unwavering support of the Quantuma team led by Phillippa Robinson. We are also very appreciative of the legal teams involved whose advice was invaluable.

''The process was undertaken in volatile market conditions, but successfully concluded."

The EOT transaction was delivered in partnership with sell-side lawyer Jeremy Hyde from Howes Percival, and Matt Cook from Bright LLP who acted as a lawyer on behalf of the Trust. 

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