There is no way that we would be in the exciting position that we are right now if it had not been for the full support of Shorts.
Nik Pratap - Managing Partner, Pratap Partnership Ltd
Case Study Summary
Nik Pratap discusses working with Shorts, highlighting the relationship, which goes back many years as being exceptionally strong, supportive and intuitive. Nik describes the reassuring initial support provided by Shorts, going on to outline the ongoing support and how the Pratap Partnership recently continued its evolution, transferring ownership to an EOT in 2023 with advice from the Shorts Corporate Finance team.
Read the full conversation below
How do you find working with Shorts?
My family’s links with Shorts go back around 35 years, so I’ve known a lot about the heritage of the firm. But my relationship started over ten years ago, firstly with Andy and it really took off then. It has been really special how the relationship with all the other partners has grown at the same rate. I hold them up as being the leaders in this market and would trust the advice of everyone in the firm.
Everyone I’ve spoken to, from Adam Ames, Andy Ryder, Liam Buttery, everybody at Shorts has an interest in you as a person and everything you’re doing as well. It’s not just the pieces of paper that are in front of you and the numbers. You look forward to visiting Shorts because you know you can share your excitement and that you’ll come away with some really good ideas too.
How would you describe your working relationship?
The relationship that we’ve built is strong for a number of reasons. I have a huge amount of trust and respect for the partners but dependent upon the query I have, I might speak to someone else within the firm – this has happened many times over the years. Everyone is very informed and totally impressive in what they were offering and clearly has the same values and attention that comes from the top. It’s very, very clear that the firm is built on good people.
My experience of working with Adam Ames has been absolutely superb – and from a technical point of view, faultless. In the early years, the contribution he made to the business plan was not only fantastic in terms of the quality but also in the time that he delivered it, and with the right level of ‘hand-holding’. From the first meeting, he was there to help, so when exploring the EOT opportunity, I had no hesitation in working once again with the Corporate Finance team at Shorts.
There is no way that we would be in the exciting position that we are right now if it had not been for the full support of Shorts.
Why did you chose the EOT route?
In 2023, four years after establishing the business, Pratap Partnership transferred to an Employee Ownership Trust. After attending seminars hosted by Shorts and speaking with Adam Ames about EOTs, entrusting the Pratap team with ownership of the company going forward was a no brainer, providing us with a robust foundation for our long-term future.
Speaking for myself, placing the ownership of the Pratap Partnership into the hands of our employees is an achievement that is hard to put into words and the most rewarding and exciting experience imaginable.
“The experience of going through the EOT transaction has allowed me to think a lot more about our future legacy, our purpose and to develop a business that continues to create value for our team, our clients and candidates for many years to come.”
How has the EOT played out for you and the employees?
Our EOT was a fantastic experience for our shareholders – a chance to reflect on everything that we have built and to see how successful our value creation has been.
Legacy was one of the big motivators for our EOT and we are working to ensure that our structure provides the motivation, engagement and team spirit to underpin our business for many years to come. We have built up a trust board that is performing well and set out a plan for how this will benefit our people in the short and long term.
We have met with so many other EOTs across our region. It feels like it is becoming a community in its own right. We are very proud to be a part of that.
How was the experience working with Shorts through the EOT?
Taking us through the process required precious advice from across our network and we were extremely grateful to Shorts – Adam Ames and Andy Irvine who worked alongside Knights for the legals.
About the Pratap Partnership
The Pratap Partnership are experts in financial recruitment across Yorkshire, Lincolnshire and East Midlands.
The business is built upon the successful history of their individuals, made even more effective by the strong team that they collectively make. They share the same commitment to the highest of standards, a passion for all aspects of the recruitment sector and the highest levels of trust, respect and commitment to each other.
All finance professionals from graduates to leaders, the accountancy institutes and higher education providers are their candidate network. The Pratap Partnership support local and national advisors including banks, solicitors and accountancy firms, alongside the private equity and investment community to ensure they receive the knowledge and referrals that the wider network can provide to benefit clients and candidates.
