Moore Kingston Smith advises Golley Slater on employee ownership transition

Moore Kingston Smith recently guided Golley Slater, the award-winning independent marketing and communications agency, through the sale of shares to its employees to create an employee ownership trust (EOT).

Established in 1957 and with offices in Cardiff, Leeds, Cirencester and London, Golley Slater has built a reputation for delivering impactful, integrated campaigns across sectors including public health, transport, automotive, education, tourism and FMCG.

Its services span advertising, branding, PR, digital marketing, media planning, social media, influencer engagement, shopper marketing and behavioural change strategies.

Golley Slater recently retained its IPA Effectiveness Accreditation for consistently demonstrating commitment to business effectiveness and delivering commercial outcomes for clients – one of only 44 agencies in the UK and the only agency in Wales.

The agency works with major brands like Bosch, Coca-Cola and Procter & Gamble, and public sector bodies such as Welsh Government and Public Health Wales. Recent successes include the award-winning “No Second Chances” campaign for Transport for Wales, which reduced railway trespassing by 50%, and brand activation for Coca-Cola European Partners.

The project

For the agency, becoming an EOT is a significant milestone that will benefit its 130 employees. It sets the stage for a sustainable and prosperous future for the £22 million turnover business, while preserving the agency’s culture, values and long-term vision.

Moore Kingston Smith has maintained a longstanding relationship with Golley Slater since 2009, providing expert audit, tax compliance and accounting services.

Driven by a clear ambition to establish a long-lasting legacy for the business and its employees, Golley Slater consulted Moore Kingston Smith to determine the optimal strategy for achieving this objective.

A multi-disciplinary team across Moore Kingston Smith involving planning, valuations, tax, legal and accounts created a clear and comprehensive plan to ensure that all aspects of the projects were covered before, during and after the transition.

David Longden, CEO of Golley Slater, explained: “This marks a major milestone in our journey – one that secures and adds real meaning to our independence, and further engages and rewards our people. This decision protects the culture, values and long-term future of Golley Slater. The reaction from our employees and clients has been brilliant, and we’re excited about what this means for our future.

“Our clients can expect the same high-quality service, innovation and strategic thinking, now delivered by an even more empowered and invested team.”

The delivery

The EOT project was led by Esther Carder, Partner and Head of Media, and Andrew Bloom, Partner and Head of Legal, supported by Thomas Dalby, Share Schemes Partner; Vida McShane, Legal Director; Shima Kelly, Employment Tax Director; Seema Shah, Tax Senior Manager; and Thomas Tong, Corporate Solicitor, all working seamlessly together to provide valuation, tax and legal advice on the project.

While the agency’s leadership, structure and day-to-day operations remain unchanged, employee ownership gives every employee a meaningful stake in the business. Staff will benefit by having a stronger voice and involvement in shaping its future.

Tim Jessen, Group Financial Director at Golley Slater, commented: “Working with Moore Kingston Smith has been an exceptional experience from start to finish. From the outset, we knew it would be important that the steps of moving to an EOT were joined up. The Moore Kingston Smith team’s seamless integration of valuation, legal, taxation and general advisory services made what could have been a complex process run so smoothly.

“Their expertise throughout saved us significant time and resources. They guided us with care, ensuring no detail was overlooked and every decision was well-informed. We felt truly supported and valued throughout the entire process. Their professionalism, depth of expertise and commitment ensured success. I can’t recommend the firm highly enough.”

Esther Carder, Partner and Head of Media at Moore Kingston Smith, concluded: “We’re delighted to have advised on Golley Slater’s EOT. As a leading, award-winning advertising and media agency, and one of the few IPA Effectiveness Accredited agencies in the UK, Golley Slater’s dedication to its 130 specialists and its long-standing legacy is truly impressive. Success in the media sector is driven by talent, commitment to client goals, passion and performance.

“This EOT transition builds on the Golley Slater’s journey which began over 60 years ago. The EOT will preserve the company’s culture, ensure business continuity and spread ownership, which is expected to positively impact performance. We wish the entire team every success in this new chapter.”