DBD Case Study
Acuity advises Ductwork by Design Limited on transition to Employee Ownership Trust (EOT)
Acuity is proud to have acted as lead financial adviser to the shareholder of Ductwork by Design Limited (DBD), a specialist provider of bespoke ductwork solutions, on the successful transition of the business to an Employee Ownership Trust (EOT).
Originally established in 1996, DBD built a solid reputation for quality and reliability in delivering tailored ductwork installations to a broad range of commercial and industrial clients. The original owners were succeeded by Paul Etty through a phased management buyout, completing in 2014. With his own succession planning in mind, Paul has remained focused on securing a long-term, sustainable future for the company while recognizing and empowering the employees who have contributed to its success.
The Deal & Our Role
Acuity’s Strategic Corporate Finance team acted as lead advisor, working closely with the company’s legal advisors to structure and deliver the EOT transaction. Our support included:
Succession Planning & Strategic Review: Helping Paul evaluate his objectives and assess a range of exit and succession options.Transaction
Structuring: Designing an EOT structure that delivered a phased transition of ownership while securing the company’s independence.
Governance & Implementation: Advising on the establishment of a governance framework and the formation of the EOT trustee board to ensure appropriate oversight and employee representation.
Tax & Compliance: Securing HMRC tax clearances and ensuring the structure complied with all relevant tax and legal frameworks.
Project Management: Leading the transaction process from planning through to completion, coordinating with legal advisers and the client’s internal team.
The EOT structure allows Paul to step back gradually while ensuring the continuity, stability, and long-term growth of the business. Employees now have a meaningful stake in the company’s future, while clients can continue to rely on the same service, values, and leadership.
Client Testimonial “Jon, Alisdair, Dan and the whole Acuity team really took the time to understand what I wanted to achieve with my succession plan. They helped me explore the different options available and guided me through the process from start to finish. Their technical advice and support were excellent, and I’m confident that employee ownership is the right future for DBD. I’m grateful for the way they helped make that happen.”— Paul Etty, Founder, Ductwork by Design Limited
Acuity Comment “We were delighted to support Paul on this important milestone for DBD. The move to employee ownership is a great fit for the business and its culture. It was a privilege to help shape a structure that delivers continuity and growth while recognizing the contribution of the wider team.”— Jonathan Skinner Partner Acuity