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European law firm Fieldfisher has advised Eurospares, a leading supplier of high-end sports car parts, on its transition to an Employee Ownership Trust (EOT). The move marks a significant milestone in the company’s evolution, reinforcing its commitment to long-term independence and employee engagement.
Founded in the UK, Eurospares has built a reputation as a trusted supplier of spare parts for luxury and performance vehicles, serving a global customer base. The transition to employee ownership reflects the company’s desire to preserve its unique culture and reward the contribution of its workforce.
Fieldfisher provided comprehensive legal and tax advice throughout the transaction, navigating the complexities of the EOT structure and ensuring compliance with all relevant requirements. The firm’s team was made up of Partners Mark Gearing and Neil Palmer, Director Jennifer Martin and Associate Francesca Lo from the Employee Ownership Solutions team, who worked closely with the sellers, James Pumo and Claudio di Paola, to deliver a successful outcome.
The nature of Eurospares’ business presented key challenges for valuation, particularly due to the unique nature of its specialist stock. Fieldfisher coordinated with expert valuers to ensure a robust and accurate assessment, and conducted a detailed analysis to confirm the company’s eligibility for EOT status.
Partner Neil Palmer commented:
"We’re delighted to have supported Eurospares on its transition to employee ownership. This deal highlights the growing appeal of the EOT model beyond traditional sectors, and demonstrates how it can be tailored to fit even the most specialised businesses."
James Pumo, co-founder of Eurospares, added:
"Eurospares has always been about passion, precision, and people. Moving to an EOT structure allows us to secure the future of the business while recognising the vital role our employees play in its success. We’re grateful to Fieldfisher for their expertise and guidance throughout this process."
This transaction further reinforces Fieldfisher’s growing reputation in the EOT space, showcasing the firm’s deep expertise in guiding businesses through ownership transitions across diverse sectors. Recently advising Attraction Tickets, Albourne Partners and Texel Group on their respective moves to EOT, demonstrate Fieldfisher’s continued leadership and commitment to this evolving area.
