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Benchmark International Completes the Sale of Knowles Associates - Total Fleet Management Limited and Ensure UK Limited, to an EOT
June 26, 2020
Benchmark International is delighted to announce the successful sale of Essex-based Knowles Associates and Ensure UK, to an employee ownership trust (EOT).
Established in 1990, Knowles Associates is a fleet management provider, implementing company car schemes for the NHS and public sector clients UK-wide.
The transition also included the acquisition of Ensure UK, providers of fleet insurance mediation and accident management services.
Founder Colin Knowles has transferred 100 per cent ownership of the company to its 54 staff.
The acquisition aims to secure a sustainable future for the business and retain its independent status which has been a major factor in Knowles Associates’ success.
Providing employees with a stake in the company also aims to further strengthen staff commitment, enhance performance and boost innovation.
Colin Knowles said: "Having considered all options for the future of the business, empowering our employees and directly involving them in the company’s growth was the next logical step in our evolution.
"Establishing an EOT means Knowles Associates can maintain its all-important independence and, therefore, its impartiality and strong values, whilst creating the opportunity to pass the company on to the next generation of business talent."
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Call Benchmark International today if you are interested in an exit or growth strategy or if you are interested in acquiring.
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