Grant Thornton advises Finefair Limited

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March 2021

Finefair Limited

Adviser to Finefair Limited on their sale to an Employee Ownership Trust

£undisclosed

Grant Thornton team

Usman Malik
Head of Business services, Corporate Finance Advisory

Business support services

Sell side

Corporate finance

We are delighted to have advised Finefair Limited on their sale to an Employee Ownership Trust.

Established over 20 years ago, Finefair is a leading provider of long-term social housing and related support services for local authorities across the country.

The business specialises in offering guaranteed rent to landlords, which has helped it grow to managing over 2,500 units.

Following a number of unsolicited approaches from prospective buyers, the Finefair shareholders appointed us to explore options and progress discussions with interested parties. This process resulted in multiple offers for the business, alongside which we also explored the prospect of an Employee Ownership Trust (EOT).

The shareholders agreed an EOT aligned with their core values and delivered the best outcome for the shareholders and employees of the business, who will now benefit from the continued growth of Finefair.

We ran a multi-track process engaging with private equity and trade buyers whilst exploring alternative options such as an EOT. This approach ensured the shareholders made the right decision for them and the long-term success of the business.

Testimonial

Engaging Grant Thornton was clearly the right decision, the depth of their experience in various exit options proved to be invaluable. Having built a successful business over 20 years I wanted the best possible outcome for me, the company and the staff. Having had offers through both Trade and private equity, the benefits of employee ownership became more appealing. Selling the business to an employee ownership trust was exactly what I was looking for as it provided me the opportunity to be rewarded for the business I founded but also reward the staff that have been with me through this amazing journey. Following the transaction, Finefair became the first employee owned social housing company, which aligns with our core values as a social enterprise. Today’s result is testament to Grant Thornton’s, experience, knowledge and expertise, delivering an exceptional outcome for everyone involved.

Kamran Naseem Founder, Finefair Limited