Cardiff-based Beaufort Research has successfully completed an Employment Ownership Trust (EOT), in a deal advised on by GS Verde Group.

Established in 1984 in Newport, and celebrating its 40th year in business, the specialist marketing and social research agency provides valuable insight to clients and helps them make informed decisions. With an emphasis on quality, innovation and customer satisfaction Beaufort Research offers a full range of qualitative and quantitative research services to clients across the UK - providing a unique focus on Wales and the Welsh language. The business's commitment to quality is underlined by its ISO20252 accreditation, the quality standard for the research industry.

Managing Director Fiona McAllister and fellow Director Chris Timmins have sold their majority interest in the company to an Employee Ownership Trust (EOT) which owns the shares on behalf of all employees. This step has given employees ownership of the company and a direct stake in the future direction of the business.

Managing Director Fiona McAllister said that deciding to pursue employee ownership was a natural step given the company culture:

"We have a team of very knowledgeable researchers with many years of specialist experience and everyone in the team makes a huge contribution to Beaufort's success. It makes perfect sense to recognize this formally via the EOT by giving all our employees a say in the future direction of the business and a secure and profitable future. Our transition to an Employee Ownership Trust marks a significant step towards achieving our vision of shared prosperity and sustainable growth."

Since its establishment, the company has seen many changes, including the move to Cardiff in 1989, the retirement of the founder in 2008 and a management buyout (MBO) in 2015. There have also been some fundamental changes to the way research projects are carried out, but the vision has remained the same.

Since its inception Beaufort Research has shown consistent growth, securing major research projects such as the current Welsh Government National Survey for Wales contract (in partnership with Verian) and adding an impressive list of high-profile clients to its name. It has developed wide-ranging expertise in consumer, business-to-business and social research and runs a unique series of Omnibus surveys focusing on Wales. Beaufort is particularly proud of its long-standing relationships with many clients which go back to the company's foundation. Celebrating Beaufort's 40th anniversary in 2024 is another major milestone for the company, highlighting four decades of research excellence.

Director Chris Timmins added: "The transition to an EOT underlines our commitment to empowering the Beaufort team. We are extremely fortunate to have a team of loyal, committed employees who will benefit from the new ownership structure. We're also confident employee ownership will help us attract the highest calibre recruits in future to strengthen the team."

The company was advised on the transition into employee ownership and the setting up of the EOT by GS Verde Group. Beaufort Research selected GS Verde Group because of previous experience and felt the Group would be a good fit for advising on the EOT transaction due to its expertise, support, and multi-discipline team under one roof. GS Verde's holistic approach and relationship with the Development Bank of Wales also played a significant role in the successful transaction.

Mike Fenwick, Director and Head of Corporate Finance at GS Verde Group said; "It was a pleasure working with the team at Beaufort Research on its transition to employee ownership. GSV supported the transaction by structuring the deal, raising the finance and dealing with all legal requirements. I wish the company every success in the future under employee ownership and I hope the company continues to grow and go from strength to strength."

Completing the EOT transaction represents significant importance for Beaufort Research as it promises security for the company's future and enhances employee involvement, marking a new chapter in the company's history. Beaufort Research has created an optimistic future for itself under the EOT, with the company well-positioned for continued growth and success.

GS Verde Group were pleased to support Beaufort Research throughout the transaction.

The GS Verde Group are business-focused experts in getting deals done. Combining all the services needed to complete a corporate transaction, including legal, corporate finance, tax, accountancy and communications, GS Verde Group acts as a complete advisory team and provides a truly end-to-end service.