Burges Salmon’s corporate team has advised Embark in relation to the launch of ‘Vested’ its new employee benefits consulting joint venture with Mazars and, separately, the sale of Embark Group’s financial planning business, RCL Consultancy, to Mazars.
Vested, which will be owned 51 per cent by Embark and 49 per cent by Mazars, will target small and medium-sized businesses with between 100 and 750 employees. Vested's services will cover workplace savings, employee engagement, flexible benefits and financial wellness.
The sale of RCL Consultancy means a portfolio of high net-worth clients with assets of around £300m will transfer between the two businesses.
Mark says: “We are delighted to have supported Embark on a series of strategic transactions and projects over the past few years. The energy of the management team and the transformation of the business that they have orchestrated has been phenomenal. This latest project fits perfectly with Embark's long-term plans and we look forward to its continued success."
Phil Smith, CEO at Embark Group, comments: “This project for us was very important and complex. Burges Salmon, led by corporate partner Mark Shepherd, have again performed superbly. This is one of many transactions the team has supported us on over the last five years and we continue to be delighted by the commercial pragmatism, legal quality, and excellent client skills of the team. They are fun to work with, whilst being technically excellent. No higher praise can be offered.”