Retail loss prevention specialist Agon Systems has completed its transition to an Employee Ownership Trust (EOT), allowing the business to enter a new stage of growth.
Based in Eastbourne, Sussex, Agon Systems has been at the forefront of retail loss prevention for over two decades, helping to shape the future of security in retail environments, ensuring they are safer for customers and more profitable for businesses.
The move to an EOT marks a pivotal moment for Agon Systems’ growth and paves the way for the business to continue to grow its relationships with well-known retailers in the UK and in Europe.
A team of specialist corporate advisors at regional legal and professional services business, Knights, advised former owners Sean and Lisa Welch on their business’ transition to an EOT.
The Knights team was led by corporate partner Kathryn Paisley, associate Daniel Halls and solicitor Jonathan Laws, who secured completion ahead of major changes to Capital Gains Tax (CGT) relief for sellers to EOTs in the Autumn Budget in November.
Other advisors involved included Innovation Capital Team, Pinsent Masons and Humphrey & Co, while Allica Bank acted as the lender in the transaction.
Sean Welch at Agon Systems said: “I would like to take this opportunity to thank the team at Knights for all their help and hard work with getting this deal over the line.
“It’s an important step for us as a business – one which will help us to do more as we continue to combat the global challenge of shoplifting and the impact this has on both retailers and customers.”
Kathryn Paisley, corporate partner at Knights, added: “We are proud to have supported Agon Systems on their transition to an EOT. This new structure aligns perfectly with the business’ long-term vision and will undoubtedly provide a new platform for Agon’s growth and continued success.
“We’ve worked alongside Sean, Lisa and the team for years and it was enormously satisfying to see all their hard work come to fruition in the transaction. We’re looking forward to seeing the business go from strength to strength in the future.”
