Ownership of William G Search Limited, which hires out portable accommodation and toilets and also runs a fleet of vacuum tankers, has transferred to an employee ownership trust (EOT).
The business was established in Leeds in 1946 and today employs a team of more than 120 people across offices in Leeds, Liverpool, Manchester, Nottingham and Sheffield. Its customers include major outdoor events such as music festivals and Aintree Racecourse as well as the construction industry 鈥� it has supplied equipment for the Grand National for almost 50 years.
In 2023 it turned over 拢15m and made a pre-tax profit of 拢1.1m
Brothers Richard and Jamie Search, grandsons of the founder, have owned and run the business for the last 35 years.
Richard Search said: 鈥淲hen it came to succession planning, our children already have successful careers elsewhere, so we were keen to find the right way to secure the future of our firm for the people that matter the most 鈥� our team and our clients. We had been approached several times to sell outright to competitors and other big operators in the sector, but we felt this option did not fit with our ethos. We are a family business at heart, and we wanted to do something our grandfather, who established the business 78 years ago would be proud of.鈥�
The vendors were advised by solicitor Cathy Cook from Yorkshire based LCF Law. 聽She said: 鈥淭he Search brothers needed a retirement strategy but they didn鈥檛 want their business to be sold and split up 鈥� they didn鈥檛 feel at all comfortable with that. They wanted to leave the business in the best possible shape for the future, and as part of that process Richard will be working in the business for at least three more years to manage the transition.鈥�
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