Eversheds Sutherland advises Costello Medical on transition to employee ownership

Founded in 2008, Costello Medical provides scientific support to the healthcare industry and works with pharmaceutical, biotechnology and medical technology organisations worldwide. The company employs more than 500 people across offices in the UK, Europe, North America and Asia-Pacific.

The move forms part of Costello Medical’s long-term strategy to protect its independence, preserve its culture and values, and ensure it remains a trusted long-term partner to its clients, employees and wider stakeholders. Under the new structure, ownership of the business will be held by an Employee Ownership Trust on behalf of all employees.

Eversheds Sutherland advised on all legal and tax aspects of the transaction and full implementation in the UK and round the world.

The international Eversheds Sutherland team was led by Partner Danny Blum, supported by Partners Steven Hacking, Elizabeth Graves, Adam Cohen, Taylor Kiessig and Michael Voynich, Legal Director Victoria Green, Principal Associate Sam Rayner, Senior Associate Chris Lowther, Associates Mimi Tsolchovska and Brittany Dodds, and Trainee Solicitor Karandeep Singh.

Danny Blum, Partner, Head of Employee Incentives Team, Eversheds Sutherland, commented:

"It has been a pleasure to lead this transaction and advise Costello Medical on its transition to employee ownership having been a trusted adviser to the business for over ten years. The new ownership structure protects the independence and values that have been central to the company's success, while supporting its long-term growth ambitions. Advising on these types of transactions, particularly with a global business, requires not only technical legal and tax knowledge and experience but a deep understanding of the strategic objectives that sit behind them, and we are delighted to have helped the Costello Medical team achieve this important milestone."

Sophie Costello, CEO of Costello Medical, commented:

“From the outset of the EOT transition, Danny, Victoria and the whole team combined exceptional technical expertise with a deep understanding of our business and culture, providing trusted guidance every step of the way.  Their collaborative approach made them a true partner in this process, and we could not have asked for better support at this pivotal stage in Costello Medical's journey.”