A Bath architectural firm responsible for working on some of the UK’s most historic houses and hotels has been bought by its employees.
Simon Morray-Jones Architects was established more than 30 years ago by Simon Morray-Jones. Over that time, it has renovated and remodelled many listed and historic UK buildings as well as projects for upmarket hotel groups including Bath-based Andrew Brownsword and Soho House. 
Most recently the Milsom Street-based firm, which employs 20 people, worked on the stylish Newt hotel, pictured, near Castle Cary.
Mr Morray-Jones recently began to explore options for stepping back from the business, settling on a sale to an employee ownership trust (EOT) during discussions with Castle Corporate Finance.
EOT are steadily gaining popularity with business owners who would rather not sell to another firm in their industry. High-profile recent EOTs include Devon organic food firm Riverfood and Bristol animation studio Aardman.
For Mr Morray-Jones and his wife Berni, the option allowed that to realise the value of their business, while handing it over to their trusted team and remaining on hand for a time to ensure a smooth transition and to help train those being handed management responsibilities.
Castle Corporate Finance director Victoria Ansell said: “We are seeing many business owners look at the option of an EOT, some of whom look at 0% tax as being the main driver, but it really doesn’t work that way.
“Simon and Berni embraced this framework as being the right thing for their team, as well as for them, and that gives me a lot of confidence that the business will go from strength to strength.”
Mr Morray-Jones added: “We are so pleased to leave our business in the hands of our very capable team. I will of course remain as a consultant for as long as they want me, but the future is now in their hands, which is really inspiring.”
Legal advice was provided by Jonathan Williamson of Outset (UK) while accountants BDO provided valuation and specialist tax advice.
