Freeths, a leading UK law firm, has supported Clone Media Technology Limited in its transition to an employee-owned structure.
Founded in 2007 by Simon Drury and Joel Dalton, Clone Media is a full-service marketing agency offering a wide range of creative and strategic solutions.
Following the move, ownership of the company will now rest with its eligible employees through an Employee Ownership Trust (EOT). This model of indirect employee ownership means shares are held collectively on behalf of the workforce via the EOT.
Leading the Freeths team on this transaction was Corporate Partner Malin Svanberg Larsson and Corporate Associate James Allen. They were supported by Tax Managing Associate Alex Angelides.
Commenting on the deal, Malin Svanberg Larsson said: “It was a pleasure to work with Clone Media on this transaction, which demonstrates our strong capabilities when it comes to advising on transitions to EOTs. We look forward to continuing to support Clone Media and we are proud to have played a role in helping facilitate this exciting next chapter.”
Simon Drury, Co-Founder of Clone Media, added: “We are delighted with the service provided by Malin and the team at Freeths and their support throughout this process. It has been a smooth and timely process, and from the outset the Freeths team demonstrated their expertise on EOTs. They guided us through the legals, and their prompt advice gave us confidence and made us feel supported from the moment we first spoke to the team.”
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