Executive View: Glyn Hopkin's sale to its workforce marks historic shift in motor retail

Glyn Hopkin's employee ownership trust sale marks a shift in how groups are looking at succession planning, argues Alison Ashley, RSM UK head of motor retail.

The group, which has a £550m turnover, has 25 sites and employs more than 800 people, making it the largest EOT transaction in the franchised motor retail sector.

When business owners are planning for a future exit, there are various options to consider.

These include the traditional trade sale route, or options involving those currently in the business such as a management buyout (MBO) or a sale to an employee ownership trust (EOT).

With increased uncertainty around capital gains tax (CGT) rates following the general election, an EOT is a tax-efficient way of selling shares in a business.