The Herd Group Moves to Employee Ownership Sagars Accountants, an AAB group company, advised Herd Group on transferring to an Employee Ownership Trust. The Herd Group is a Surrey-headquartered vehicle rental firm that has seen significant year-on-year growth since the business was founded in 2014. The firm, which now operates throughout the UK through its 30-strong team, has created the Herd Group Employee Ownership Trust (HG-EOT) to ensure continuity across all areas of its business and enable the Herd brand to remain in place “for years to come” in the words of Herd Group CEO Nigel Schroder. “Within our industry sector we see so many businesses being swallowed up by larger competitors or taken over by outside investors when they reach a certain size, in terms of both their fleet and profit returns,” Schroder said in a statement. “Invariably, the original business and the culture of that business are destroyed, broken up and diluted, in order to be absorbed into the buying business or restructured under an investor. The people that built the original business become a number and the culture that created the success is forgotten.” Sagars Accountants advised the firm on tax and accountancy matters with a team led by partner Kate Naylor. ABOUT THE DEAL 92 LAWYERMONTHLYMARCH 2023
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