Birkett Long assists Pearl Automotive’s transition to employee ownership

Pearl Automotive, a major supplier in the UK automotive aftermarket sector, has moved to Employee Ownership following the incorporation of an Employee Ownership Trust.

Since its incorporation over 50 years ago, the Pearl brand has become synonymous with quality. From their base in Benfleet, Essex, they have developed household brands such as Wot-Nots, High Tech Parts, and Pearl Consumables, all of which can be found on the shelves of customers throughout the UK and Europe.

Simon Martin and Ross Rowan of the Ensors CF team advised on the deal. Tim Field of Birkett Long provided legal expertise.

Robin Etherington commented, “I joined Pearl in 2004 and was part of the MBO team in 2007. Throughout my time with Pearl, the ethos has remained the same. I’m delighted that Peter and I have moved the business to being employee-owned rather than a sale to a consolidator who may have changed the things which make Pearl the business it is.”

Robin continued, “It has been a pleasure working with Ensors. Simon and I have had a number of conversations over the past few years aimed at planning for the move to Employee Ownership; it has been enjoyable working with advisors who are down-to-earth and are happy talking about normal topics like football.”

Tim Field, Head of Commercial at Birkett Long, commented, “I’m pleased to have supported Pearl Automotive in this important transition. Moving to employee ownership is a smart decision that secures the company’s future and rewards its loyal staff. It’s been a pleasure to provide tailored legal advice to help guide Pearl through this process.”

Simon Martin said, “This was a special deal for me to be a part of. I first worked at Pearl back in 2007 as an audit junior, and I could not imagine that our paths would cross again many years later on the eventual sale of the business. Pearl is a company that treats its staff fairly, and they are rewarded with a loyal employee base – over half of the staff have been there for more than 20 years! This is quite simply the type of business that an EOT is perfect for. I know firsthand how excited Robin and Peter are regarding the future of Pearl, and it is fantastic that the employees now get to share this.”

This collaboration highlights Birkett Long’s commitment to offering strategic legal solutions that empower businesses to thrive. The firm provides comprehensive support for businesses navigating employee ownership or other strategic transitions with confidence.