London-based recruitment specialist, Major Players, has secured a multi-million-pound funding package from HSBC to support a partial management buy-out.
The funding will give the firm’s 100 employees the chance to purchase equity totalling 25% of the business.
The funding has been placed into an internal trust, from which staff members can purchase shares in the business.
The scheme is intended to boost employee engagement and, in turn, enable Major Players to retain highly skilled team members.
So far, eight employees at the company’s Covent Garden headquarters have purchased from the fund.
Victoria Ritchie, HSBC’s Area Director for Corporate Banking in the City of London, said: “The partial management buy-out scheme is an exciting development for Major Players.
“By giving valued employees the opportunity to buy into the business and become shareholders, the company will improve retention of the highly skilled staff members who have helped make the business such a success.
“We were delighted to support this significant deal.”
Jack Gratton, Chairman of Major Players, said: “Rewarding employees who have dedicated years of service or performed particularly well is something that is hugely important to us at Major Players.
“The multi-million-pound funding facility, provided by HSBC and organised by relationship director James Dowdall, has enabled us to offer an exciting new prospect to our staff, enabling them to become truly invested in the future success of the business.
“We hope to see many more take advantage of the scheme in the coming months.”
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