A business which has provided lifechanging support for hundreds of young people in Yorkshire has become workforce owned.
The entire shareholding of The Sanctuary Project has been transferred by owners Debbie and Mark Clough to an Employee Ownership Trust (EOT) for its management team to take forward and create a long lasting legacy. Debbie and Mark will be remaining for the business for approximately five years.
The Sanctuary Project started as a sole trader in 2006 before becoming a limited company in 2011. It provides Ofsted regulated accommodation and support for 16 to 25 year olds, children in care and care leavers.
With five sites in and around Wakefield, its customers include Wakefield, Leeds, Calderdale, Kirklees, Barnsley and councils further afield.
International accounting and advisory group Azets in Yorkshire provided deal and tax advisory services and law firm Ward Hadaway provided legal advice.
The team comprised corporate finance partner Tariq Javaid and corporate finance manager Adam Mulla from Azets UK and Adrian Ballam and Cordelia Stephens from Ward Hadaway.
Debbie Clough, Sanctuary director, said: “Launching and building The Sanctuary Project over the past two decades years has been the most rewarding experience of my life.
“Together, our passionate and committed team have helped hundreds of young people realise their potential and lead fulfilling and happy lives.
“The time is now right to hand t