A Newport architectural firm has been acquired by its employees.
Through an employee ownership trust (EOT) deal, leading care sector practice KWL Architects , has been acquired by its staff from the firm’s founding directors Philip Lewis and Neil Ross, who will remain with the business for the foreseeable future. The founder will also becoming trust directors - joined by Sally Morgan, practice manager and Rob Sheward, director, who have both been with KWL since its formation. Alun Chapple has also been appointed as an independent trust director.
The value of the deal has not been disclosed. The transition to the new EOT was supported with finance from Triodos Bank UK, with advisory services from Social Business Wales and legal support from Darwin Gray.
