Swindon & Wiltshire News
Bath hospitality recruiter becomes employee owned
A Bath-based hospitality recruiter has transitioned to an employee ownership model with the help of Bristol-based FRP Corporate Finance.
Catering Services International is an award-winning hospitality employment agency with over 35 years of experience matching staff with businesses across the UK.
With 11 regional offices the company works with a wide range of firms from independent venues to major hospitality groups.
It has now become 100 per cent employee-owned, after establishing a new Employee Ownership Trust that gives its employees a direct stake in the business.
The move to employee ownership marks a significant milestone for the company, ensuring the continued independence of the business whilst preserving its culture and long-standing commitment to client service and staff development.
FRP Corporate Finance’s team – led by partner Mark Naughton (pictured), director Matt Field, associate director Freddie James and executive Emma Wade – acted as lead advisers to Catering Services International on the deal.
The team managed the creation of the new trust, supporting on the valuation, structuring and negotiations while also delivering specialist tax advisory and clearance assistance.
“Employee ownership is becoming an increasingly popular succession route for founders who want to secure the long-term future of their business whilst rewarding the people who have helped to build it,” said Mark.
“Catering Services International has established itself as a trusted partner to the hospitality sector over the past three decades, and this transition will allow the company to preserve the culture of collaboration that has made it successful as it continues to grow.”
Andrew Berman, managing director of CSI, added: “Our people have always been at the heart of our success, so it felt natural that they should benefit directly from the value they help create.
“With the help of Mark, Freddie and Matt and the team at FRP Corporate Finance, we’ve been able to put in place a structure that protects our independence, rewards our employees and positions us for the next chapter of growth.
“The support they provided was second to none, which ensured a smooth transition, cementing the future of the business.”
