International events business,Pylon One, has announced its transition to employee ownership, in a deal supported by FRP Corporate Finance.
Headquartered in Buckinghamshire, Pylon One specialises in the design, installation and operation of the ICT infrastructure for major events across the globe and has recently worked on occasions including London’s New Year’s Eve, King Charles’ Coronation and COP28 in Dubai.
The new ownership structure will provide long term stability for the company’s 15 employees, encouraging further engagement in the firm’s evolution and enabling them to share in its future success.
FRP Corporate Finance was appointed as lead adviser to manage the transition. Led by partner James Cooper and director Matt Field, assistant manager Lydia Kelsall and executive Lucy Day, the team designed the structure of the Employee Ownership Trust (EOT) and undertook share valuation, tax and financial modelling.
FRP also provided tax advice, including the preparation of the advance clearance applications required by HMRC to confirm of the nature of the transaction and the treatment of cash gifts to the EOT.
Mark Lyons, founder and director of Pylon One, said: “Since John and I launched Pylon One in 2006, our team has worked tirelessly to cement our position as a trusted events partner to clients around the world, ranging from Google to Louis Vuitton, Universal Studies and the Premier League.
“With our colleagues so central to this success, our move to employee ownership represents a natural next step in our business’ development, to provide long-term stability and enable our team to share in our continued success. FRP’s advice has proved invaluable in this process, enabling a smooth transition and delivering the right outcome for the future of the business.”
James Cooper, partner at FRP Corporate Finance, said: “Employee ownership is becoming an increasingly popular option for businesses in all sectors, providing owners with an effective alternative route to exit that can secure jobs and allow for company culture to be maintained.
“It was a pleasure to work with the management team at Pylon One in identifying employee ownership as the best path forward for their business and ultimately implementing the transition, and we look forward to watching the business continuing to thrive internationally under its new structure.”
Tracy Evans at EMW Law provided legal advice on the deal.
