A corporate finance firm in Birmingham has changed its structure to become owned by its staff.
Orbis Partners has transferred majority ownership of the businesses to an Employee Ownership Trust which is a government initiative giving business owners the chance to sell their shares to a trust free from capital gains tax.
Orbis Partners was founded in 1999 when James Grenfell and Chris Gregory set up Invex Partners as one of Birmingham’s first independent corporate finance boutiques.
They were joined soon afterwards by Gary Ecob and, after a period of growth, Invex Partners was sold to Kroll in 2003 and Kroll Corporate Finance was formed.
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Shah Zaki joined the business that year and, after a successful period under Kroll’s ownership, the business was reacquired by the four of them under the new name of Orbis Partners.
Orbis provides advice and investment services, via its own investment arm Intrinsic Equity, on deals such as mergers and acquisitions, management buyouts and development capital.
Mr Grenfell said: “We have always been focused on our people and creating opportunities for the talent within our team to flourish and receive the right recognition and financial rewards.
“We are proud of the team and the culture we have created and, in a people-driven business, feel that this is better developed under a wider ownership structure.”
Mr Ecob added. “We are genuinely excited about the next chapter as the partner group commits to widening our ownership and jointly delivering an ambitious growth plan.
“The timing is perfect after an exceptionally busy period for the team and the recent promotions of Tom McCarthy to partner and Peter Waplington to director.”