Please note – This post will no longer be updated and the content has been moved to the Why Employee Ownership page

One of the common questions of companies contemplating transition to an ESOP is why?  The purpose of this blog post is to provide an aggregation of various news stories on companies that have made the transition and in their own words why they decided to do so.  The below stories are obtained from news sources that were not behind a paywall when added to the blog post.  The format will be simple, date, company (with HTML link to the story), and a quote or two on why.  If you are an ESOP company and would like to contribute your story please contact INCEO.  And with that said, let’s begin the journey.

Last update Feb 13, 2023 see: Why Employee Ownership page

Feb 13, 2023, Livingston James, transitions to employee ownership via an EOT. Mr Livingston told The Herald: “The statistics would suggest [employee ownership leads to] low staff turnover, greater buy-in, greater customer satisfaction, [and a] more egalitarian share of profit, because the employee ownership trust exists to make sure the business is run for and behalf of the benefit of all current and future employees. They are the majority shareholders.”

Feb 10, 2023, West Lebanon Feed & Supply, transitions to employee ownership via a TeamShares buyout.  Jacques, a leading voice in the Upper Valley business community for nearly three decades, said he and his wife began planning for retirement several years ago and had the store listed for sale with a business broker. Despite discussions with traditional buyers, Jacques said Timeshares offered a pioneering model that would benefit employees while at the same time providing him and his wife with an exit strategy and reward for their hard work.  “All the jobs are safe. Nobody’s going to lose their jobs,” Jacques said, adding that employees “are not only shareholders now but stakeholders, too.”

Feb 7, 2023, TwoTwenty, transitions to employee ownership via an EOT.  Stain added: “In effect, we are a family business whose employees are not related, so to create an EOT resonates with every value we have ever aspired to. It creates a legacy for us, provides security for all the staff, and allows us to handsomely reward every employee for the hard work and effort they put in.”

Feb 7, 2023, LDJ Manufacturing, transitions to employee ownership via an ESOP. “This was an exciting announcement as the new ESOP enables our team members to share in the growth and prosperity of the company, and ensures that the company remains private and local,” says Ben Cox, president, LDJ Manufacturing. “We remain committed to our core values and to the success of the business and our team members — all while retaining the focus on quality and customer satisfaction that has been instilled in the company by the Van Wyk family from the beginning.”

Feb 7, 2023, UKClimbing, transitions to employee ownership via an EOT. The creation of UKClimbing Trustee Limited as the owner behind UKClimbing Limited means that the future of the company is on solid ground. We have a great staff and we will hopefully be able to recruit more new employees who share our enthusiasm and desire to communicate and promote climbing and the outdoors to the world and stick to the ethos that we have established over the last two to three decades as the business has developed.

Feb 7, 2023, Kudos Records, transitions to employee ownership via an EOT.  Kudos founder Danny Ryan, who will remain with the company as MD for at least the next five years, adds: “Kudos Records has always been committed to fostering a culture of ownership and engagement among its employees. This transition to employee ownership will further align the interests of employees with those of the business”.

Feb 4, 2023, Tuxedo Distributors, Inc, transitions to employee ownership via an ESOP.  “Our employees have been the backbone of this business, and it gives me great joy to see them become owners of the company they have helped build,” said Steve Swink, Founder & CEO of Tuxedo Distributors. “The Employee Stock Ownership Plan (ESOP) is a perfect way to reward their hard work and dedication.”

Feb 3, 2023, Ti-Trust, transitions to employee ownership via an ESOP.  “Our success is attributable to our exceptional employees and the great culture we have at TI-TRUST. We have been serving as an ESOP trustee for hundreds of clients since 1988.  Today, with our own ESOP, it strengthens our commitment to our employees and our culture while continuing to provide outstanding service to our clients.” said Brian Ippensen, President and CEO.

Feb 2, 2023, Archway, transitions to employee ownership via an EOT. Andrea, who graduated as a vet in 1996 and worked around the UK and Australia before settling in Chepstow, explained her reasons for selling the practice to her colleagues: “In South Wales, a large number of Veterinary Practices have been taken over by corporates and I was becoming increasingly concerned that a monopoly of these companies and private equity firms buying out small independent practices was affecting our industry, and those linked with it.  “Therefore, when I was considering the future of the practice, I was adamant that Archway would and should remain independent long after my stewardship ends.

Feb 2, 2023, StoneAge Holdings, transitions to employee ownership via an ESOP.  Says Kerry of becoming 100% employee-owned, “We take pride in providing our team with rewarding careers and the chance to work alongside remarkable colleagues to achieve something truly meaningful together. We embody ownership thinking in everything we do, from our accountability to each other, to how we serve our customers and value our partners.” She continued, “Being employee-owned drives and shapes our daily work ethic, and we couldn’t be more excited to continue serving and innovating the industry as one united team.”

Feb 1, 2023, Harper McDermott, transitions to employee ownership via an EOT.  Managing director Thomas Fox explained: “Employee ownership provides many benefits; from existing staff retention through to attracting the best talent, it gives our team job security and brings us closer together as one team all working towards similar goals.”

Jan 30, Gift Universe, transitions to employee ownership via an EOT.  Founder Paul Kraftman commented: “At Gift Universe we are proud of our great people, many of whom have been with the company for a number of years and have been emotionally invested in our journey. I am delighted that they will now have the opportunity to own a part of the business they have helped build and we will be able to manage succession planning in the business in an orderly way over the next few years, ensuring continuity.”

Jan 27, 2023, MM-EYE, transitions to employee ownership via an EOT.  Damien Field “We’re very excited to pass on ownership of the business to the team who have contributed so much to its success.  “It’s good for the business, good for the team and good for us. Normally when an owner sells it is time to think about slowing down – we’re massively energised by this new chapter for the business.”

Jan 27, 2023, Woodlands Home & Garden, transitions to employee ownership via an EOT.  Chief Executive Moran said: “There has been a huge amount of interest in this sector over the last two years, and as one of the established market leaders, Woodlands has received a number of offers of investment or in some cases offers to take a controlling interest in the business.  “Whilst this is extremely flattering, it comes at a time when the company is still part way through our brand journey, and we are acutely aware of how important it is for such an historic business to be very selective with regard to strategic  partnerships.  “Instead, we have used this period to assess all of the growth options available to the business and we felt that the EOT model was perfect for us.

Jan 25, 2023, Understanding Recruitment, transitions to employee ownership via an EOT.  Chris Jackson, CEO of Understanding Recruitment, said, “Today’s announcement is without a doubt the most significant and important one in our history. The Board has always been driven by creating an inclusive and rewarding culture and we feel strongly that the EOT will help further boost the already impressive growth performance (currently at over £5 million EBITDA) and most importantly give all employees the opportunity to financially benefit from pay-outs ranging from six to seven-figures depending on their length of service and seniority.”

Jan 19, 2023, Stellar Industries, transitions to 100% employee ownership.  “During the past two decades, our employees have enjoyed many positive benefits of employee ownership,” said Zrostlik. “With an ownership mindset, our employees will continue to work together to increase the company’s value. We believe this change to 100 percent ESOP ownership will secure Stellar’s success for years to come. That’s good for employee-owners, good for Stellar and good for the communities where we are located.”

Jan 19, 2023, BC Construction Group, transitions to employee ownership via an ESOP.  “We’ve always treated our clients as partners throughout the design build process… and now our employees will be true business partners as owners, as well,” said Mark Tomasik, President of BC Construction Group. “We are proud of our unique focus and culture, and this new change is the next step in our evolution, setting the stage for a very exciting future.”  “Our transition to a 100% employee-owned company is a natural extension of what enabled our prior success,” added said Paul Lemley, Executive Vice President, BC Construction Group.  “It embodies our core values of honoring our commitments, treating each other equally and with respect, taking pride in all we do, and being fair and resilient in getting to the right solution. Our ESOP is the best investment we can make in each other, our clients, supplier partners, and for the successful future of our business.”

Jan 18, 2023, All Comfort Services, Transitions to employee ownership via an ESOP. “Only a few of the heating contractors that were in business when I started are still around,” says Davies. “We’ve stood the test of time, and I think doing this will help us to keep doing so.”  Transitioning the company to an ESOP allows employees to benefit directly from profits and get involved in the many decisions that guide a company. It also grants employees a very real “piece of the pie.”

Jan 18, 2023, DB3 Group, transitions to employee ownership via an EOT.  Nathan McNamara, CEO of DB3 Group commented: “We are delighted to announce that we have set up an Employee-Owned Trust, which owns a majority stake in the business. Our team are what makes us so successful, and after two strong years of growth we are pleased to be able to make this change and recognise the contribution that every employee makes to our success.

Jan 17, 2023, TXI, transitions to employee ownership via an ESOP. “When founders simply sell their companies to the highest bidder, they leave their clients and employees to navigate profound cultural changes, unfamiliar leadership hierarchies, and shifting business objectives all on their own,” said Josh Golden, founder and chair at TXI. “By transitioning to an ESOP, TXI keeps its culture intact and aligns its business interests with the interests of the people that made us successful in the first place.”

Jan 15, 2023, Town and Country, transitions to employee ownership via an ESOP.  “At the end of a career, a person asks themselves what kind of difference they made,” Bing wrote. “What’s their legacy? When I reflected on 40 years of running Town and Country Group, it was clear to me that success came from the dedication and perseverance of each employee. They are (the business’) legacy.”  In an employee-owned company, employees own stock and directly reap the benefits of their own labor. Performance affects the whole team’s stock value, rather than individual reviews.

Jan 9 2023, Crooks Walter Consulting, transitions to employee ownership via an EOT.  Paul Crookes and Dave Walker, founders of Crookes Walker Consulting, said: “CWC is a knowledge-based business, with a reputation for teamwork and excellence. We are only as good as the people within the practice, and we wanted to ensure that with any succession plan, their future was not just secured but enhanced.

Jan 9, 2023, Useagility, transitions to employee ownership via an ESOP after first being sold to New Jersey’s First Tek. However, First Tek notified Useagility employees that Useagility would be closed.

Jan 6, 2023, Horizon Transport, transitions to employee ownership via an ESOP.  “Yeah, as an owner, you’re always trying to figure out later in life — I’m now 55 – how you’re going to land this airplane, so to speak,” he said. “I’ve thought about selling to private equity or even to a competitor, and it just didn’t seem right or to fit right. And I got some legitimate offers, but the thing that just fit us best – with all the stars aligned — was to sell the company to the employees. And it allows us to reward long term employees who have been with me in some cases for over 30 years and have helped me build the company into what it is today. “So, it just felt really, really good to be able to reward these employees with stock,” he added, “and then when they retire, they can cash out for their retirement.”

Jan 6, 2023, Automation-X, transitions to employee ownership via an ESOP.  “Our talented employees set us apart at Auto-X,” says Chairman of the Board Dan Schultejann. “We want our employees to think and act like owners, which will directly benefit from Auto-X’s continued success.” Board Member Alex Schultejann adds, “Auto-X strives to create a cohesive culture, many of our employees have been with us for most of their careers. The ESOP will position the company with sustainable, long-term growth while enhancing our employees’ work lives and financial futures.”

Jan 6, 2023, Lantana Consulting Group, transitions to employee ownership via an ESOP.  “Lantana has always been about the staff, their dedication, innovation, and commitment to excellence,” Liora commented, “so it makes perfect sense that they now take ownership. I have always wanted Lantana to be a company that I would like to work for—and now, in my new role as Chief Strategy Officer focused on new business, special projects, and communications, I will have that opportunity. I am thrilled to hand off the torch to Courtney who has an expansive vision for Lantana and the leadership qualities to fulfill that vision.”

Jan 5, 2023, Geokon Inc, transitions to employee ownership via an ESOP. “I’m happy that I can leave Geokon in the hands of the people who helped me make it the outstanding company that it is,” said Barrie Sellers, who founded the company in 1979.  “During a time where our industry is witnessing consolidation via venture capitalism, we are pleased to resist this trend and transition to a 100% employee-owned company,” added Chuck Chamley, the company’s current president.

Jan 3, 2023, Herd Group, transitions to employee ownership via an EOT.  Nigel Schroder said “Within our industry sector we see so many businesses being swallowed up by larger competitors or taken over by outside investors when they reach a certain size, in terms of both their fleet and profit returns. Invariably the original business and the culture of that business are destroyed, broken up, diluted, in order to be absorbed into the buying business or restructured under an investor. The people that built the original business become a number and the culture that created the success is forgotten.”  “In order to maintain what we have built and in order to take the business to its next level, the Herd Group Employee Ownership Trust has been created. At Herd, we have spent years building an incredible brand, a unique culture which has been built on a passion for Customer CARE and a brilliant team, who always deliver… every single one them are amazing and it is only right that they all share in the current and future success of Herd,” he continued.

Dec 21, 2022, Gwynedd Holiday Lodge, transitions to employee ownership via an EOT.  Founder Richard Watson said: “We have a fabulous team at Aspire and the success of the business is a result of the dedication and talents of the whole team. When we heard about how an Employee Ownership Trust worked it was obvious that we should do this. We want every team member to benefit from our future success.”

Dec 20, 2022, Seven Search, transitions to employee ownership via an EOT. “With it being Seven’s 20th birthday this year, this has made us reflect and consider the future, in particular the future ownership of the business.” says Gabby Rosenberg, co-owning director and one of the original employees at Seven Search and Selection. “Selling the business in full to its employees in the form of an Employee Ownership Trust (EOT) was a no brainer for us and means that Seven continues to retain the collective values, expertise and commitment of the people in it.”

Dec 15, 2022, S&W Wholesale, transitions to employee ownership via an EOT.  Michael Skelton, CEO of S&W Wholesale, said: “This is a very bold and exciting move for us as pioneers of EOT at this scale in Northern Ireland. We know there will be learnings over time but the most important thing for us is that our team are going home this Christmas knowing that not only have they job security, and certainty for the long term; but they are working for an organisation that genuinely wants them to benefit from the business.

Dec 13, 2022, Geokon, transitions to employee ownership via an ESOP.  “During a time where our industry is witnessing consolidation via venture capitalism, we are pleased to resist this trend and transition to a 100% Employee-Owned company. Our 43-year success is built on quality, service, and the efforts of our dedicated employees. We believe that their ownership will contribute greatly to the next chapter of GEOKON, and we look forward to the extraordinary results of the trust we’ve placed in their capable hands,” said Chuck Chamley, President.

Dec 13, 2022, Ghilotti Construction, transitions to employee ownership via an ESOP.  “We are excited to transition ownership to our employees who are best positioned for the future success of Ghilotti Construction Company,” said CEO Richard Ghilotti of the company that has roots back to 1914 in the North Bay.

Dec 6, 2022, Contegra, transitions to employee ownership via an ESOP.  “We had discussed the possibility of an ESOP at Contegra for many years,” explains Eric Gowin, Founder and CEO of Contegra Construction Company. “Given the overall health of the business and our strong project backlog, we felt that now was right time to begin the journey.

Dec 2, 2022, Guttman Holdings, transitions to employee ownership via an ESOP.  “My brothers and I are extremely excited about this opportunity. Having been very successful in managing our customer’s fuel and transportation needs through the most tumultuous time in our history, we remain very bullish about this business and our future. We have an outstanding executive leadership team in place. Joe Lucot, CFO and Mark Harper, COO have been leading the Company for the last few years and have set Guttman up for continued growth. The ESOP is an opportunity to share our success with the leadership team and all the employees. We are thrilled to turn over the Company and entrust our legacy to our outstanding management team and team members to take Guttman into the future,” said Alan Guttman, CEO and Chairman of the Board.

Nov 30, Sledge, transitions to employee ownership via an EOT. Former owner Fawcett said: “We have always been an employee-first group, and the decision to transition to an Employee Ownership Trust model further exemplifies this. While we have sold the group to the EOT, Sarah and I will remain involved in both agencies, and remain wholly committed to their continued success.” While former owner Yeats added: “We value the insight and expertise of our people. We are passionate about empowering them to contribute to the ongoing development of the group, and the EOT model champions this.”

Nov 24, 2022, Dent Instrumentation, transitions to employee ownership via an EOT.  “This deal ensures a smooth succession as well as the preservation of the company’s core family values and the Dent Instrumentation name,” said managing director Colin Hull. “The EOT structure will maintain the integrity of the business for years to come.”  “The success of Dent Instrumentation has been down to the dedication and talents of the whole team so putting it in their hands feels fantastic,” added chairman Andrew Dent. “It was incredibly important to protect our heritage and way of working and I couldn’t think of anyone better to do that than the very people who helped to grow the business.”

Nov 23, 2022, Kern River Brewing Co, transitions to employee ownership via an ESOP.  “Our employees are so much a part of our success that we felt this was the best path forward for our collective futures and Rebecca and I are so happy to be able to make this announcement today.” said Rebecca Giddens, also co-founder, in a statement. “KRBC is still family-owned. It’s just that our family got a little bigger.”

Nov 18, 2022, Yellow.ai, transitions to employee ownership via an ESOP. The objective, said the company in a statement, is to empower employees irrespective of their tenure or designations, as well as promote collective success by getting them to think about long-term value and wealth creation for themselves, customers, and for Yellow.ai.

Nov 18, 2022, Bennett Oakley, transitions to employee ownership via an EOT.  Simon Elliott, Bennett Oakley’s managing director, said: “Employee ownership is about looking after our existing employees and attracting the best talent to work for us.  “Becoming employee owned means our people now have a direct stake and say in the business.  “Moving to employee ownership means that our people will take an equal share of our profits and will have a direct say in the business through our Employee Ownership Trust.”

Nov 15, 2022, Peter Ambrose, transitions to employee ownership via an EOT.  Peter Ambrose said: “It’s a very exciting time for the company with lots of opportunities as we move into a new age that will be more and more dominated by electric and hydrogen vehicles. I knew I was going to sell the business one day, but I wanted the structure to be right and the option of creating an EOT really appealed to me. We’ve always put our people at the heart of our operations so this option felt like a natural transition as the business will remain in the hands of those who have made it what it is.

Nov 15, 2022, Hockley Mint, transitions to employee ownership via an EOT.  Talking about the transfer, Hockley Mint managing director, Gary Wroe said: “It’s always been the people and the team at Hockley Mint that have made the business great. “Choosing an Employee Ownership Trust is a natural next step that allows us to maintain what’s great about our current culture, protect the future of the business and give back to our employees with tangible benefits.

Nov 14, 2022, Valco Industries, transitions to employee ownership via an ESOP.  “I do think it was a win-win in the fact that it provided an exit strategy for myself and my family; I received a fair market value for the company, as determined by an independent outside firm; and I can keep working if I want to. It kept the business local, kept our workforce intact, and was a vehicle to financially reward the employees—in an unexpected and an unusual way—who helped build the company and were willing to stay and work for the long haul.”

Nov 14, 2022, Frank Ellis Architects, transitions to employee ownership via an EOT.  Matthew Branton, Franklin Ellis’s managing director and a founding member of the firm, said: “Taking the decision to become an Employee-Owned Trust is one we’re pleased to enact and feels like a natural progression for Franklin Ellis. We aim to ensure the independence and continued success of FE and choosing an employee-owned model exemplifies the level of ownership our employees have in their work and the direction of the company. This change will solidify the confidence we have in our staff, our commitment to them and secure the future of FE, while preserving our culture and ambitions.”

Nov 14, 2022, Futureserv, transitions to employee ownership via an EOT.  Craig Cleary, founder at Futureserv, said: “Today marks a new chapter in Futureserv’s history. Ever since our first hires joined the business, we have retained a real sense of family across Futureserv, so it felt a natural next step in our journey to transfer to employee ownership.”  Dave Cleary, founder at Futureserv, said: “As a building services consultancy, our greatest asset will always be our talented team of engineers and support staff. Moving to an employee owned business will ensure that Futureserv’s continued success provides benefits for all and also help attract the brightest, forward thinking candidates in the future.”

Nov 9, 2022, YesTax, transitions to employee ownership via an EOT.  John Moxon, managing director at TFF Tax Ltd, trading as YesTax, said: “We have always prided ourselves in being a different kind of tax company, driven by the desire to make a difference. The new structure is built around this idea, giving all employees a stake they will directly benefit from.

Nov 9, 2022, Conde Systems, transitions to employee ownership via an ESOP. “Since our founding in 1992, my foremost goal has been to provide our clients the superior resources needed to be successful in their custom decorating business,” said David Gross, President of Condé Systems. “This transition is the best step for us as it reinforces our commitment to serve our clients in the best way possible and also supports the sustainability of our company. Our clients can now have an additional level of confidence that our firm is here to serve their needs far into the future. Equally, our employees now have an opportunity to accumulate financial well-being not only through compensation but also through the ESOP,” he added.

Nov 9, 2022, Camargue, transitions to employee ownership via an EOT.  HCR’s head of corporate in Cheltenham, Tim Ward, said: “In such uncertain times, this is truly a good news story. Employees are at the heart of every business – having the chance to make a real difference to their own futures as well as that of the business they work for cannot be underestimated. Being part of a new chapter in Camargue’s story is really heartening. I wish them the very best for the future.”

Nov 8, 2022 Creed Communications, transitions to employee ownership via an EOT.  Director and co-founder Hill said: “It’s fitting that after 15 successful years in business that we should reward and recognise [our staff’s] contribution by moving to an employee-owned model. This move ultimately sets us up to look ahead to the next 15 years of business and beyond, as we develop our experts and leaders for the future, remain agile and independent and support more organisations as they grapple with the constant and changing demands of the employment market.  “Moving to employee ownership is becoming more popular, but it remains a path that’s not well-trodden. The expertise and pragmatism of our advisers at Brabners and KJG ensured that we secured a deal that sets us up for a bright future.”

Nov 7, 2022, Inspired Cycle Engineering, transitions to employee ownership via an EOT.  Co-founder and director Neil Selwood said: “Our aim is to always surpass people’s expectations in everything we do.  “That is why ICE trikes have played their part in setting world records, cycling to the South Pole, touring the globe in supreme comfort, and winning countless races, as well as enabling people to enjoy their daily commute or a relaxed trip to the shops.  “We couldn’t have done that without our team and by becoming employee-owned we keep that passion for our work for years to come.”

Nov 7, 2022, Leader Marketing Partnership, transitions to employee ownership via an EOT.  “Becoming employee-owned recognises their contribution and I am confident that the Leader legacy is in safe hands with a team that share a commitment to keeping its values alive. As the agency moves to an EOT model, the culture of collaboration that being employee-owned brings is vital. Three of Leader’s current staff – Faye Hampson, Tracy Taylor, and Alister Foye – are stepping up to become directors and will comprise the agency’s new senior management team.”

Nov 3, 2022, Bisley, transitions to employee ownership via and EOT.  Mr Brown said: “For some time now, along with the Board of Directors, I have been seeking ways in which to ensure the long-term success of Bisley, and at the heart of this for me has always been the most important element of Bisley – our people”.

Oct 31, 2022, The Camargue Group, transitions to employee ownership via an EOT.  Managing director Jo Lloyd said: “When we started looking at the next stage of our future, it was really important to us that we retained our independence and that we protected our values.  “We wanted to create a strong platform for growth and to put our people, who make us who we are, front and centre. We think clients will see the value of working with consultants who have a real and personal connection with their company.

Oct 31, 2022, Austin Design, transitions to employee ownership via a cooperative.  As owners, Holschuh said, employees have “a little more skin the game” and take more responsibility for what happens with the business. The only challenges in moving to the worker cooperative she cited had to do with determining how the model would work.  Austin Design now has a board of directors made up of employee owners and corporate officers. Holschuh said the company plans to continue getting group consensus on decisions.

Oct 25, 2022, RJ Lifts Group, transitions to employee ownership via an EOT. Richard Skelson, group chairman, said: “This is a very positive step for our staff, our clients, and the company.  “Our vision is for the business to continue to be run in accordance with the values and principles on which it was first built, and this will be enhanced by employee ownership.”  Gareth Williams, managing director, added: “This guarantees our future and the next stage of growth as an independent company, and allows us to continue to deliver consistently for our clients.”

Oct 25, 2022, Your Equipment Solutions, transitions to employee ownership via an EOT. “As clichéd as it sounds, we are one big family at Y.E.S and when looking into my succession plan, employee ownership was the perfect option. I’ve always had the view that if the company does well, the staff should do well too – and this is just one of the ways I can repay their hard work. “I’m confident that the more than capable team are going to continue the business’s constant commitment to quality products and services, as well as its strong values in charity and local community, which is something that wouldn’t have been guaranteed should I have sold the firm.” – David Johnstone Founder and MD

Oct 25, 2022, NEC, transitions to employee ownership via an EOT.  Vince Middleton said: “As a third-generation family business our people have always been an important part of our company and the decision to become an Employee Ownership Trust rewards our team and gives them a say in the future development of the business.”

Oct 21, 2022, Oliver and Co, transitions to employee ownership via an EOT. Owen said: “By selling the business to our employees we can retain that special culture and secure the business for the future. And our clients will benefit too, because if our people are happy, that is reflected in the fantastic service we give to our clients.”  Cook added: “Employee owned businesses tend to see higher levels of profitability and productivity, along with improved employee and customer satisfaction. Employee owned organisations excel in engaging employees, who in turn drive performance and innovation.

Oct 17, 2022, Shedkm, transitions to employee ownership via an EOT.  It [Shedkm] said that making the business 100 per cent employee-owned would ‘better reflect the genuinely collective ethos engrained in our culture, for the benefit of all’ as well as providing continuity and ‘long-term reassurance, not just for staff, but for clients’.

Oct 14, 2022, DENT Instrumentation, transitions to employee ownership via an EOT.  Andrew Dent commented: “The success of Dent Instrumentation has been down to the dedication and talents of the whole team so putting it in their hands feels fantastic. It was also incredibly important to protect our heritage and way of working and I couldn’t think of anyone better to do that than the very people who helped to grow the business.”

Oct 7, 2022, Twisthink, will transition to employee ownership via an employee Stock Ownership Plan.  “We carefully considered many different options … but the ESOP was the clear choice for this team,” Chief Technology Officer Kurt Dykema said in a statement. “With the creation of our ESOP, there is great enthusiasm regarding what the future holds for all of us — including our clients who will continue to receive the best from our team-owners every day.”

Oct 6, 2022, Intec Systems, transitions to employee ownership via an EOT. Managing Director Adrian Howells noted: Selling into an EOT structure preserves the business in its current form for the staff and ensures the legacy of Intec continues.

Oct 5, 2022, JDDK Architects, transitions to employee ownership via an EOT.  Nicky Watson, JDDK Director, commented, “Like many forward-looking organisations, we are aware of the challenges of not only increasing employee engagement but also opportunities for succession and have taken advice from many sources, including our accountants, Haines Watts, who have helped set up the EOT alongside our solicitors, Muckle LLP.” “As a very close-knit, collaborative team of creative people, this felt a natural progression for us and continues in the spirit of equality and professional innovation which is already embedded in our practice. The EOT splits ownership from management which removes potential barriers to succession, ensures retention of our business ethos and values, increases the influence employees can have on the business and creates opportunities for greater reward for their skills and efforts.” “Importantly, to our clients, contractors and fellow consultants, it will be very much business as usual, dealing with the same individuals and teams as before and we’ve actually received a very positive reaction from those we have informed.”

Oct 5, 2022, Planit_IE, transitions to employee ownership via an EOT.  Ed Lister, managing director and co-founder, said: “Having spent 25 years building the practice from scratch, and witnessed other similarly strong businesses sell out and then slowly lose their identity, culture and purpose in the process, we knew that this wasn’t an option for us, and the move to Employee Ownership means that it should never be.

Oct 5, 2022, Rolling Hills, transitions to employee ownership via Teamshares.  “I am so excited that Rolling Hills is now employee-owned,” said John Brophy, retiring owner of Rolling Hills. “The success of this business has and always will be our employees, and so making them owners, while ensuring the business will forever be part of the community, just makes sense.”

Oct 4, 2022, Horn Photo, transitions to employee ownership via Teamshares. According to the Groszs, becoming an employee-owned business honors their team as well as the business’s family legacy.  “It allows a successful business to continue to thrive after the owners have retired, according to the Horn Photo website. “The team of dedicated employees have always been the greatest strength for Horn Photo. Passing the business on to the employees is a way of honoring their hard work and preserving the company’s legacy for generations to come.”

Oct 4, 2022, Linear Recruitment, transitions to employee ownership via an EOT.  Linear stated that it wanted to reward its ‘loyal and hardworking employees’ and the move to an Employee Ownership Trust gives the company stability moving forward with ‘ownership succession that preserves the business and its culture’. Furthermore, Linear added that this gives its employees ‘a voice on the board enabling a clear and collaborative way of working’.

Oct 3, 2022. Acutec, transitions to employee ownership via an EOT.  “This has been a long-time vision of mine,” Smith said. “I have a very collaborative leadership style. A lot of people have made Acutec what it is today. We want people to own their own processes like they are a business owner.”

Oct 3, 2022, Lyneal Group, transitions to employee ownership via an EOT.  Cartlidge, who has been with the firm since its inception in 2011 when he built the original My Staff Shop website, said: “Years of dedication and innovation has made our company the success it is today. It feels fitting that the current employees will now be the beneficiaries of that hard work, providing world class benefits packages for our clients’ employees. This really is the ultimate employee reward programme, for employees, by employees! We can already see the impact of bringing the team closer together.”

Oct 3, 2022, Medstrom, transitions to employee ownership via an EOT.  Chief executive David Belli said: “Medstrom is securing the future of the business, including its ethos, values and focus on sustainability, whilst maintaining our unique culture.”  Scott Apsey, Medstrom, managing director and CIO, added: “It gives us all great pleasure to give something back to our very committed colleagues, as they often go above and beyond their duty to ensure our customers and patients are well looked after.”

Oct 1, 2022, Belbin Associates, transitions to employee ownership via an EOT.  The EOT is a means of acknowledging and celebrating Belbin’s past and securing a bright future. As a company that ‘practises what we preach’, Belbin is proud of the strength of its own team. In effecting this transition, we are giving back to our employees – making them the curators of our brand and strengthening their connection to the business.

Sept 29, 2022, Matandy Companies, transitions to employee ownership via an ESOP.   Owners of Matandy Companies, Frank and Joanne Pfirman, converted their three businesses into an Employee Stock Option Plan on Aug. 11, 2022.  “I knew if we were to sell to a competitor or venture capitalist, there was a strong possibility that the culture we all worked so hard to establish would be gone and, in all probability, jobs could be lost,” Pfirman said. “Joanne and I both wanted to make sure that did not happen. This also ensures that Matandy will stay in Hamilton.”

Sept 29, 2022, The Challenger Group, transitions to employee ownership via an EOT.  Sam Pepper and Richard Green said: “It’s such a proud moment to be able to hand over The Challenger Group. Selling the company to our employees through the creation of the EOT ensures the stability of the business for the long-term and supports our desire for further continued growth.  “This move recognises the value that our teams have delivered over the years, and it is a very exciting opportunity for each individual to take a pivotal role as the businesses progress. Creating a great place to work is fundamental to our business principles, and we’re very excited about the next stage of the journey.

Sept 28, 2022, ShapeBlue, transitions to employee ownership via an EOT.  Giles Sirett, CEO of ShapeBlue, commented: “I am very proud to be able to say that ShapeBlue is now 100% employee-owned. This guarantees our future as an independent company and allows us to continue to deliver for our customers through our deep involvement in Apache CloudStack.”

Sept 28, 2022, Integrity Tree Services, transitions to employee ownership via an ESOP.  The company’s former owners saw creating an ESOP as opening “a new chapter of employee retention” and profitability, according to a statement. According to Integrity Tree Services’ website, the company has grown its head count by 25 percent year-over-year.  “We are excited about this change because it encourages our team members to take ownership of the company’s culture and success,” Integrity Tree Services CEO Phil Sims said in a statement. “Every decision they make will affect the profitability of the company and can increase their stock value. We will also be able to deliver an even higher quality of work to our clients across the nation.”

Sept 26, 2022, Bellegarde Bakery, transitions to employee ownership via a Cooperative.  “The energy and integrity of Bellegarde will be preserved by the people who maintained it all these years,” said Gill in a press release announcing the change in business model. “What makes the co-op model so exciting is that it stands for a way things used to be done and how many people want them to be done in the future. Much like bread baking, it’s a way of doing business where you get out what you put in. I’m proud and excited for this change. And I ask for New Orleans’ support. The same you’ve provided for years. But this time to a newer spirit at Bellegarde.”

Sept 26, 2022, DAY, transitions to employee ownership via an EOT.  “This marks the start of an exciting new chapter for DAY and all our employees. We view this step change as a way of safeguarding the longevity of Day Architectural and an opportunity to provide a sustainable future of continued growth, development, progression and success for the company and our team in our years ahead.”

Sept 22, 2022, Astor Wines & Spirits, transitions to employee ownership via an ESOP.  We had three goals: One was, when you’re selling a business, you want to be paid for the business that you’re exiting. The second is the preservation of Astor. I’ve been at this for 50 years, and I’m proud of it and the people within the business. The third thing we wanted to accomplish is making sure the people who have been so instrumental in building the business were rewarded for that.

Sept 21, 2022, Austin Design, transitions to employee ownership via a Cooperative. “Over the last several years, our office evolved into a tight, effective team serving our clients to the best of our abilities,” Austin said. “We developed an exceptional, if diverse, portfolio in affordable housing and craft breweries, among other areas of architectural design. During the last year, we developed a plan to create a worker-owned cooperative to take the reins of Austin Design, Inc.”

Sept 10, 2022, Stewarts Ambulance, transitions to employee ownership via an ESOP.  “When the company’s profitable, the employees share in the profits,” said Justin Van Etten, executive chairman of Stewart’s Ambulance Service in Meredith. “It will create a lot more long-term financial security for all our EMTs and we hope will pull more people into the field.”

Sept 8, 2022, Shuttle Buses, transitions to employee ownership via an EOT.  Shuttle Buses says it was established in 1990, has 60 vehicles, and operates both commercial and subsidised local bus services – including school and private contracts, the MyBus on-demand service, and private coach hire. It says a key driver for moving to employee ownership was to “retain the ethos and culture of the company whilst anchoring it in the local community”

Sept 6, 2022, HED, transitions to employee ownership via an EOT.  Imogen Young, one of the current directors, said: “The employee ownership model is the perfect solution for us as a small company allowing us to pass ownership and responsibilities to our hard-working team. This will be phased over a number of years allowing successional planning and eventually retirement in our later years.”

Sept 4, 2022, Molded Fiber Glass(MFG), transitions to employee ownership via an ESOP.  Looking ahead, we are excited to begin the transition to an ESOP and for its potential. Robert Morrison wove spirit, commitment, and integrity into MFG and now it is up to us to keep those principles in the forefront. Fortunately, we have the best team in the industry. They are not only ready for the challenge but talented enough to grow and expand MFG Tray’s operations and footprint for generations to come.”

Aug 26, 2022, Kellner Foodservice, transitions to employee  ownership via an ESOP.  “The employees of this company are what make it work,” said Bill Kellner, who made the employee-ownership possible and was the last family namesake to own the century-old business. “I did not want to sale the business to another company.”

Aug 10. 2022, Getech, transitions to employee ownership via an EOT.  Guy Watts, managing director of Getech, said: “Making the move to an employee ownership model was a great choice for Getech.  “The EOT allows us to satisfy the balance of the preservation of our own SLT team and identity on the one hand, with the shareholders’ ability to structure an exit on their own terms on the other. It was a pleasure to work with both teams, their expert guidance, hands-on approach and professional attentive client service impressed us from the start.”

August 10, 2022, Mower, transitions to employee ownership via an ESOP. Eric Mower commented, “The ESOP allows Mower to remain independent, to maintain our professional standards and practices and for our employees to know that their future is in their hands. The ideas and energy of this committed team of next generation employee owners, all dedicated to collaboration, creativity and problem solving, will prove a powerful force for growth, as well as a powerful tool to attract and retain talent. I look forward to seeing our new employee owners maintain their fierce friendships while doing great work that supports the success of our clients.”

Aug 9, 2022, Minehead Medical Centre, transitions to employee ownership via an EOT.  Dr Ford said: ‘Employee-owned trust offers GP practices an alternative, more flexible operational model; offering staff a greater say in how GP practices are run and opportunities for the team to develop their careers by having a greater leadership role, without needing to have the funds to invest as a partner.’

Aug 8, 2022, Metal Finishing, has transitioned to employee ownership via an EOT.  A statement from the founders said: “As a family, we have committed our lives to this company. Now we want to see it continue to provide for our employees’ families for generations to come.”

Aug 5, 2022, JAX Mercantile, transitions to employee ownership via an ESOP.  Jim Quinlan [JAX President] states: “Our company sees all our employees as integral to the success and future of JAX. We believe employee insights and input as ESOP shareholders will help keep our company at the forefront of the changing retail business world and ensure they are full participants in our company’s future.”

Aug 1, 2022, Concepto Clinic, transitions to employee ownership via an EOT.  Co-Owner Flatley added: “At Concepto Diagnostics, we always put our staff and customers first. The transfer of ownership means staff have a vested interest in growing and developing our firm so we stay on top of our game, delivering the best service we can, to all of our customers.”

July 28, Archer Malmo, transitions to employee ownership via an ESOP. Our success has always been driven by the exceptional talent, passion and character of our people. We’re intensely focused on a brilliant future for our agency and putting 100% of the ownership, opportunity and responsibility for that future in the hands of our people,” said Russ Williams, CEO.

July 26, 2022, Accent Landscape, transitions to employee ownership via an ESOP.  “I could have sold my business to a competitor or private equity, but I know what can happen next – the culture changes and people get laid off. I didn’t want that for my employees. They are like family to me, and they helped build the company,” said Cameron Stevens, founder and owner of Accent Landscape Contractors. “A&H offered me a fair market price, did not require me to carry a large seller’s note, cut through all of the red tape, and showed me throughout the process that my workers were going to be able to carry Accent forward. I’d like to express my gratitude to A&H and their investment partners for making this transition to employee ownership possible.”

July 25, 2022, Henderson, transitions to employee ownership via an ESOP.  “Moving to an ESOP company was a natural next step in our firm’s evolution. Our employees are what sets us apart, so we want to empower them all to think and act like owners. As an ESOP, employees on all levels are more engaged and focused on client service because they have a stake in the success of Henderson.”

July 25, BCMS, transitions to employee ownership via an EOT. “We believe this is the first EOT for the Corporate Finance sector, and as the UK’s only employee-owned M&A specialist, it provides another point of distinction in our market, as we seek to build a business that really stands out in our industry.  We believe this new ownership structure will give us a number of advantages over competitors and allow us to connect even more strongly with our entrepreneurial client base. After all, just like our clients, we are all now business owners too.”

July 19, 2022, Bliffert Lumber & Hardware, transitions to employee ownership via an ESOP.  “The sale is a way to reward employees for their contributions to Bliffert Lumber & Hardware’s success and to ensure its long-term vitality,” Bliffert said. “I am a firm believer that we are all in it together. The ESOP is the best way to ensure this.”

July 19, 2022, Hoskins Architects, transitions to employee ownership via an EOT.  A statement from Hoskins Architects added: “The process has been driven by a desire to engender a sense of ownership across our team, rewarding the loyalty and low staff turnover our practice has always enjoyed, and to recognise the positive contribution that every member of our team makes. We have developed a business structure we believe will continue to put purpose and people first, maximising staff engagement and productivity to the benefit of colleagues, clients and consultants alike.

July 18, 2022, Twisted Automotive Group, transitions to employee ownership via an EOT.  Twisted founder Charles Fawcett remains managing director.  He said: “It is with great pride that we enter employee ownership; a venture that recognises both my appreciation of my hardworking team and the importance of their contribution to the company’s success.  “I’m delighted that Twisted has secured its future independence with a focus on its people, by offering them the opportunity to own the business that they have helped to build and empowering their future growth and development for years to come. The business will flourish under their steam because of this.”

July 15, 2022, American Reading Company, transitions to employee ownership via an ESOP.  “I’ve long believed that the best solutions to educational challenges come from those who have been closest to the classroom or have direct experience with the education system,” said founder and CEO Jane Hileman. “ARC is not your traditional business, and the main reason why is the people who work here.  This is a business where a vice principal with skill in logistics became the senior executive in charge of supply chain and a receptionist grew into the role of chief operating officer. It’s a place where teachers, principals, and other colleagues cultivate their talents in new ways to lead every department. Employees who act as stewards of the mission and enterprise in such dedicated ways make the transition to an ESOP all the more worthwhile and necessary.”

July 12, 2022, Minehead Medical Centre, transitions to employee ownership via an EOT.  Ed Ford, the GP who led the development of the employee ownership trust at Minehead Medical Centre, said: “We have a fantastic management team and wider staff team, so partners at the practice felt we should give them more control of the business. We also wanted to ensure that the business structure shouldn’t rely on individuals holding shares that could be difficult to transfer if people wanted to leave, hence the idea of becoming an employee ownership trust.  “EOTs offers GP practices an alternative, more flexible operational model; offering staff a greater say in how GP practices are run and opportunities for the team to develop their careers by having a greater leadership role, without needing to have the funds to invest as a partner.”

July 11, 2022, Fresh-Jet Catering, transitions to employee ownership via an EOT.  John [Founder and Group Managing Director] sought out a succession strategy that secured the future of the business and protected the staff who work in the company’s other locations, while ensuring the continued success and growth of the business.  As such, he has now completed the transfer of his entire shareholding to an Employee Ownership Trust (EOT), who will hold the shares on behalf of the employees.

July 11, 2022, B8 Real Estate, transitions to employee ownership via an EOT.  Speaking on behalf of all three directors, Jon Thorne said: “Having worked hard to establish our brand and track record over the past decade, we wanted to build on our position as a leading independent force in the market. At a time of change and market consolidation, employee ownership offers a way for our business to safeguard its independence and create a growth platform for our team.  “It also recognises the importance of our people. B8RE’s strength lies in our expertise and personal service which in turn relies on the knowledge and commitment of our team. The new structure puts our people at the heart of the business and provides a framework for longer-term growth.”

July 11, 2022, Crawford Architects, transitions to employee ownership via an ESOP.  The decision to move to an employee-owned company follows the celebration of 20 years in business and the restructuring and promotion of leadership positions at Crawford.  “I believe we are operating at our best potential when we are being the most inclusive, open minded to any and all ideas having relevance at concept,” said Doug Osborn, Crawford principal. “I think that the ESOP allows that same principle to be applied to the operations and decision making of the company; everyone will have the opportunity to contribute to the successes of the firm and likewise can be rewarded for their hard work, reliability, and dedication.”

July 8, 2022, Yankee Publishing, transitions to employee ownership via and ESOP.  As a 100% employee-owned company, we are more excited than ever about what the future holds in store for YPI.” Jamie Trowbridge, CEO

July 7, 2022, Napier, transitions to employee ownership via an EOT.   The move is designed to ensure that Napier can remain independent, preserving the culture of the agency and showing clients that the agency is committed to the long term.  “Employee ownership is rapidly becoming the best way to secure the future of independent companies, particularly those in professional services, such as marketing agencies,” said chief executive and managing director Mike Maynard.  “I’m excited about continuing as managing director, and look forward to watching the company grow helped by the many benefits of employee ownership for the Napier team and our clients.”

July 7, 2022, Trident Building Consultancy, transitions to employee ownership via an EOT.  Trevor Dowd, Trident’s MD and one of its founding partners, said: “We have been looking at various options for Trident’s future, looking for one that would benefit all our staff as well as one that secured our long-term success.  “We have put in place a succession plan that will see new generations at Trident continuing to support our existing clients and developing new ones based on our reputation long after myself and others have retired.”  “We think the Employee Ownership Trust is the perfect solution and we are incredibly excited for the next chapter in the Trident story.”

July 6, 2022, Healthcare Management Solutions, transitions to employee ownership via an ESOP.  “Our decision to become an ESOP-owned company is a real benefit and opportunity for eligible employees and for this company, since everyone here now has an ownership stake in our collective future and growth as a business,” said Leah Heimbach, President of HMS.

July 4, 2022, The Great Cornish Food Store, transitions to employee ownership via an EOT.  Founder Ms Huxley said: “The store is in great shape and we have an incredible team, who very much deserve a boost after all the challenges they have handled so admirably over the past two years.  “I’m convinced we can really power ahead now as a purpose-driven company, becoming even more successful while preserving our values and integrity long term.

July 2, 2022, Left Hand Brewing, transitions to employee ownership via an ESOP.  “The idea is to have everyone have a stake in the game, to create long-term employees and have everyone doing our work on a mission from God,” Wallace says, quoting the Blues Brothers. “We have been working on ownership culture for a long time – half of our employees already own stock – so this is just another step. It’s a big step, though.”

June 29, 2022, Owl Barn, transitions to employee ownership via an EOT.  Chris Astridge, founder of Owl Barn, said: “We’re proud to have grown Owl Barn into a thriving business over the last 27 years, and it was important to us to preserve the culture of the business for our employees and customers.”  Hunton added:  “We worked closely with Chris and Elaine to explore options, and a transition to employee ownership was the ideal succession solution for not only the vendors themselves, but the other management of the business and other stakeholders of the company.”

June 29, 2022, Target Components, transitions to employee ownership via an EOT.  Prior Owner Cubbage added: “Selling the company to the employees through the creation of the EOT ensures the stability of the business for the long-term and supports our desire for further growth. This move recognises the value that the Target team have delivered over the years and the pivotal role each individual will play as the business progresses under its new leadership.”

June 29, 2022, Crookes Walker Consulting (CWC), transitions to employee ownership via an EOT.  Explaining how they came to this decision, founders Paul Crookes and Dave Walker, said: “CWC is a knowledge based business, with a reputation for team working and excellence. We are only as good as the people within the practice and we wanted to ensure that with any succession plan, their future was not just secured but enhanced. EOT is the ideal way to achieve both goals whilst helping to attract and retain the best talent in the industry.

June 27, 2022, Apex Plumbing, transitions to employee ownership via an ESOP with the assisance of A&H Capital Partners.  Brian Wilkie, Apex’s original business owner, said, out of the potential offers he received for the company after putting out a marketing plan, A&H approached him with one that he considered “really intriguing.”  Since leaving the business to family wasn’t an option, a concern at the top of his mind was “how would our long-term employees fare in a sale, a transition to an equity buyer.” A&H’s offer “right off the bat struck us as something that might really be beneficial for the employees,” Wilkie said.

June 26, 2022, Denby Campervans, transitions to employee ownership via and EOT.  Ellis [Beswicks Legal Team] added: “The employee ownership model is a very effective means to embody and build on a business’s culture, by allowing employees to benefit in the business’s future success.”

June 24, 2022, Austin Partnership, transitions to employee ownership via an EOT.  Explaining the reason for selling the business to an EOT rather than another company, Howard Austin said: “I love the business I have built here with Austin Partnership and I’m very proud of the team we have and the work we do. When considering how I would eventually exit the business, the idea of selling it to someone else just didn’t work for me. I wanted it to go to people who would safeguard its future and protect the legacy of the hard work we have all invested.

June 23, 2022, Woods Hardwick, transitions to employee ownership via an EOT.  Wilson, who is a director for Woods Hardwick and been with the business for over 30 years, said: “We’re an independent firm and our staff are our most vital asset so it’s a great opportunity to give back and reward everyone’s efforts.  “We’ve got plans to extensively grow the business across our London, Birmingham and Bedford offices and moving over to an employee-owned business will give us the chance to attract the best employees and talent across the UK.

June 22, 2022, Manhattan Mechanical, transitions to employee ownership via an ESOP.   “Our team’s hard work and dedication made this transfer of ownership the obvious decision,” explains President Joe Harkness. “Our company’s success is reflected in its commitment to safety and high-quality work. Now our employees are officially owners of Manhattan Mechanical.”  According to Harkness, with safety and people as core values of the company, the integrity of the employees at all levels remains unmatched, creating a vested interest in the success of Manhattan Mechanical.  “Our goal is to increase shareholder value,” explains Harkness, “With ESOP, every employee is an owner, which presents the opportunity for wealth creation and results in an increased price of ownership.”

June 17, 2022, Gilbert Thompson (Leeds), transitions to employee ownership via an EOT.  Daniel and Richard Thomson, joint managing directors at Gilbert Thompson, said: “It’s such a proud moment to be able to hand over Gilbert Thompson. Transferring ownership into our amazing team’s hands ensures our culture and values live on, which was one of the most important factors to us in considering any next chapter for the company.  “We firmly believe this next chapter as an employee-owned business is just reward for the hard work and talent of our brilliant team. Becoming employee-owned is about maintaining and building on our unique family culture. Creating a great place to work is fundamental to our business principles, and we’re excited about the next stage of Gilbert Thompson’s journey.”

June 17, 2022, Evolve Family Law, transitions to employee ownership via an EOT.  Robin Charrot, founding director at Evolve Family Law, said: “Over the past seven years, we’ve grown the firm sustainably while bringing new people into the fold to share in our success. Our priority has always been looking after our clients and co-workers rather than maximising profit, and that sentiment has been at the core of our decision to become an employee-owned business, which will provide a platform for everyone to contribute and benefit as Evolve grows in the future.  “Louise and I could have sold the firm to an outside party, but we decided that this would not provide the best outcome for our clients or our staff. We have no plans to step away from the business, so we’re looking forward to helping Evolve prosper under employee ownership while we continue to support clients with transparent, trusted advice for years to come.”

June 16, 2022, Edible Beats, transitions to employee ownership via an ESOP.  Chef/Owner Justin Cucci  shared “I believe that Edible Beats becoming a 100% ESOP was the embodiment of a win-win for the employees as well as for myself and my family. It’s a powerful succession plan that provides opportunities for the employees and leaders on this communal journey—putting them in the front seat.”

June 15, 2022, IMMI, transitions to employee ownership via an ESOP.  “It’s our incredible people and culture that has helped drive our value and growth,” said Tom Anthony, IMMI chairman of the board. “To honor our team, this was the only logical choice. This is an exciting way to reward our team members for their innovation, hard work, and dedication. They have always owned it, and now it’s official.”

June 14, 2022, TaxAssist Accountants, transitions to employee ownership via an EOT.  Mr Forrester, managing director, said: “Employee ownership is becoming increasingly popular in the professional services sector. We are delighted to be taking the leap and creating a sustainable business which will continue to provide a rewarding place of work and an outstanding service to clients.  “Our people are at the heart of the business we’ve nurtured and grown over 15 years and we’re passionate about continuing to motivate, drive and energise our talented team.”

June 14, 2022, Selectaglaze, transitions to employee ownership via an EOT.  Keith Mercer, managing director of Selectaglaze, added: “Working at Selectaglaze, I have been proud of the fact that we collectively have always been able to sustain a good quality of life for all employees and their families, that we provide a safe place for everyone to develop and reach their full potential.  “This change to an EOT means that we have not only created a sustainable business but one that is socially responsible, and that can continue to support employees.”

June 13, 2022, The Executive Shaving Company, transitions to employee ownership via an EOT.  Mr Mulreany said: “My fellow director Shona and I were retiring and wanted to ensure that the business not only remained in Scotland, but also that the jobs of our loyal employees were protected. We heard about employee ownership from a business contact and it seemed like a perfect fit for our company culture, as well as anchoring the company in its home city of Glasgow.

June 13, 2022. A&F Sprinklers, transitions to employee ownership via an EOT.  Mark Stansfield said: “It’s such a proud moment to be able to hand over ownership of A&F Sprinklers. Transferring ownership into our team’s hands ensures our culture and values live on, which was one of the most important factors to us in considering any next chapter for the company.”  He added: “We firmly believe this next chapter as an employee-owned business is just a reward for the hard work and talent of our brilliant team. Becoming employee-owned is about maintaining and building on our unique culture. Creating a great place to work is fundamental to our business principles, and we’re excited about the next stage of A&F Sprinklers’ journey.”

June 13, 2022, Smith & Anderson, transitions to employee ownership via an ESOP.   “We believe it takes both investment ownership and work contribution to make a company successful,” says managing principal Kevin Farbridge, “and ownership can and, ideally, should be available for all. The ESOP will be a foundation for individual career success, team building and collective prosperity.”  “The launch of the ESOP felt like another natural step for our company,” says principal Douglas Smith. “Our work ethic, which began with my father when he started the firm, is still what keeps us moving forward.”

June 13, 2022, Carlton Bingo, transitions to employee ownership via an EOT. George Carter said: “It might sound like a cliché but we are very much like a family business here. The sale to an EOT fitted exactly with what we wanted. We have to wait a few years to realise our full value, but we judged that to be a risk worth taking to preserve all that’s good about Carlton for our customers and our staff.  A management buyout was a real possibility – our management team are hugely respected within the business – but that really only defers the problem of succession. By transferring the shareholding to an EOT, the future of Carlton Bingo is secure for our loyal staff and customers.”

June 8, 2022, GTC, transitions to employee ownership via an ESOP.  “The company’s founders started with the idea that providing clients with our commitment to exceptional quality and personal service is the key to success and that philosophy still drives our work ethic to this day,” the company said in a statement.  “Employee ownership complements our core values and focus on providing the best contracting services to our customers. Now that they are owners, GTC employees will share in our company’s financial and operational successes,” said Todd Schroeder, president of GTC

June 1, 2022, Absher Construction, transitions to employee ownership via an ESOP.  In a statement, CEO Dan Absher said, “When he reached the end of his career, my grandfather, company founder Barney Absher, passed the company to his son Tom and his top employee at the time, Clark Helle Sr. For more than five decades, the company was owned by our two families, the Abshers and the Helles. “As we engaged in succession planning over the past several years, deciding to transition to an employee-owned company aligned with our company culture and values, and deepens our commitment to our team members who are responsible for the success of our projects throughout the region.”

June 1, 2022, Potter Raper Ltd, transitions to employee ownership via an EOT.  The move to an EOT was made by the directors to secure the continued expansion of the company, maintaining its ethos and rewarding its employees, while ensuring quality of service for their clients.

June 1, 2022, Banning Engineering, transitions to employee ownership via an ESOP.

May 26, 2022, Karmak, transitions to 100% employee ownership via an ESOP.“Keeping the business in Carlinville and providing stable, technical employment for local people has always been a top priority for our family,” says Richard Schien. “We’re really proud to provide our community with the opportunity for growth, and this will continue even in my retirement.”

May 25, 2022, CDY Ceilings and Partitions, transitions to employee ownership via an EOT.  Chris Robinson advised on the transfer, including the creation of the trust.  He said: “EOTs are providing an attractive way for entrepreneurs to get value for their company whilst at the same time benefitting and protecting the workforce.

My 23, 2022, Handy Brand, transitions to employee ownership via an EOT.  Founder Martyn Kilford shared “Without our excellent team members and loyal customers, Handy Brand’s success would be nowhere near what it is today. That’s why I decided to set up the Employee Ownership Trust scheme, to show my huge appreciation for their unwavering professionalism and empower their future development for many years to come.”

May 10, 2022, LHI Group, transitions to employee ownership via an EOT.  “Having looked at both trade and private equity options, we were ultimately most attracted to the EOT structure, which means we will continue as an employee-owned business. Tom Glanfield was incredibly generous to previously allocate half the equity in the company to over a 100 option holders and now the EOT structure allows us to expand on this ethos.”

May 6, 2022, Lyon Equipment, transitions to employee ownership via an EOT. “We have always been fiercely independent, and plan to remain so,” said a statement. “After becoming a limited company we sought to keep our independence by developing an internal market for our shares, keeping ownership 100% in the hands of employees.  “However, in recent years we came to the realisation that the majority shareholders were ageing rapidly and likely to leave within a short time frame so our plan would simply not continue to work. What to do? Selling the company was ruled out, so we decided to enhance our employee-owned status by vesting ownership of Lyon Equipment into an Employee Ownership Trust.

May 3, 2022, North American Arms, transitions to employee ownership via an ESOP.  Chisholm [president and owner] stated – The approach provides a retirement vehicle for the loyal team there, as well as incentivizing them as owners who directly benefit from any quality and productivity improvements they deliver. “While bittersweet in some respects, I couldn’t be more pleased with the promise of this transition, both for my appreciated and valued employees, as well as for our customers,” Chisholm said. Another priority in the transition was maintaining NAA’s independence and the jobs it provides in Provo, UT. “I’ve had several unsolicited ‘expressions of interest’ from other manufacturers in the firearms industry,” he added. “NAA dominates its small niche for concealed-carry firearms and enjoys an over-sized brand and reputation for quality and customer service that would burnish any other manufacturer’s reputation. Unfortunately, that would almost certainly lead to a relocation of this business and the loss of jobs for all those who I want to protect and reward. This route assures that stability.”

May 1, 2022, Educ8 Training Group, transitions to employee ownership via an EOT.  Colin Tucker, Chairman of Educ8 Training said, “Since setting up the business it has always been important to have community at the heart of Educ8. Setting up this trust in favour of our employees means we can truly say Educ8 is embedded into our local communities. It will create true value and wealth for those that have contributed to its success.

April 25, 2022, Nixon, transitions to employee ownership via an EOT. Speaking about his decision to transfer ownership, Nixon said: “Nixon’s team has always been one of its leading strengths, and what really sets us apart. Thinking about the future, as we reach the incredible milestone of 30 years, I wanted the company to pass into the hands of those people who’ll truly value what we’ve achieved, and think of new and innovative ways to continue our success. “I couldn’t be prouder of what we’ve collectively created, and I know the company is in safe hands with its biggest supporters. I’m excited to see what the next 30 years have in store.”

April 18, 2022, Erickson’s Flooring and Supply Co., transitions to employee ownership via an ESOP.  There are no changes to management, employees, or company operations. The ESOP gives our employee owners an equity interest which provides a long-term incentive to provide our customers exceptional value. Our customers should know that they are buying from local owners like themselves. Now we can proudly say, “We care more because we own the place.”

April 17, 2022, Miquelina Facility, a Columbian clothing factory transitions to employee ownership via an EOT.  Miquelina was established by Sister Esther Castana Meija, Mother Superior of a religious order.  The facility provided opportunity to women trapped in prostitution and exploitative situations. With advancing age – Brown is 67 and Madre Esther is 93 – the pair looked for ways of ensuring the principles of the business could continue and an EOT was set up on 1 February, effectively passing ownership of the company to its employees. The spokesperson said: “Since Miquelina was set up for the benefit of its employees in the first place, it was logical that Miquelina and Páramo should combine.

April 14, 2022, Applewood Seed Co, transitions to employee ownership via an ESOP.  “Our employee-owners are the future of our company and Applewood Seed is continuing to invest in that future together,” said Gene Milstein. “The growth of our company is driven by the empowering, collaborative, and engaging culture of our team members, who provide excellent customer service throughout Applewood Seed’s sales process. Being an ESOP company provides our team members with the keys to ownership ensuring a successful future for the company.”

April 12, 2022, Robertson Bell, transitions to employee ownership via an EOT. Founder Stuart Bell said: “Having spent 15 years building a business, one that is continually evolving and adapting to the ever-changing needs of the organisations it helps, the time has come to transfer ownership to the those who have made Robertson Bell the success it has been – its people.   “Through an EOT we can empower staff with the knowledge that they will be the ones to benefit as the company continues to flourish.  He added: “This organisation hasn’t been built by experienced people; it has been built brick by brick by people starting as trainees. With that has come deep-rooted values of being down to earth and I am conscious of protecting this grounding, culture, and emphasis on our people.”

April 11, 2022, Melin Tregwynt Wollen Mill, transitions to employee ownership via an EOT. This will preserve traditional skills and the knowledge gathered over a century or more, since the company was founded.  “Amanda and I inherited the business and have grown it substantially over the last 35 years but now we want to take a step back,” said Eifion.  “It was important for us that Melin Tregwynt remained a viable business and part of its local community, and employee ownership provided the perfect solution for us.  “Most importantly the 42 strong workforce will keep their jobs and skills and knowledge will be remain here and be kept alive. “I am proud to be passing on the company to the new employee board who I know will take the business to new levels of growth.”

April 11, 2022, KM Packaging, transitions to employee ownership via an EOT.  Charles Smithson, Managing Director, said: “KM is a proudly independent company and has achieved significant growth in both domestic and export markets. The EOT is a natural transition as it builds on the company’s values of Trust, Ownership, Passion, and Innovation that have been established over the last 38 years.  “The company’s employees are passionate about the business and its values. They are the people who should reap the future rewards for their hard work and dedication.”

April 4, 2022, TNEI, transitions to employee ownership via an EOT.  TNEI CEO Nigel Tate stated,  “Completing this transfer of ownership, with the support of HSBC UK, is an important step for the business.  “Our employees are at the heart of our success and their talent is a significant differentiating factor for our customers. I look forward to driving continued growth into the future.”

April 4, 2022, IFSE Group, transitions to employee ownership via an EOT. Group MD Andrew Fordyce commented: “A company is so much more than one person, and after more than 35 years of entrepreneurship I looked carefully at how I could create a lasting legacy for all my colleagues going forward. Establishing an Employee Ownership Trust and transferring the company ownership to be shared among everyone that works for us seems a perfect solution.  “For our customers, it is business as usual. I am remaining in post and the existing management team and staff will continue to work in the business as normal. We know that the prospect of new staff automatically taking a part share in the business will be a real help in securing the best talent in the industry moving forward.”

April 4, 2022, Broadriver Group, transitions to employee ownership via an EOT.  David Harvey, the managing director of Broadriver, said: “Protecting the values and integrity of the company was paramount when the shareholders were considering succession options. Employee Ownership offers the best chance to do that for all employees across the group.  “The current directors will stay with the business and whilst the day-to-ay operations are unlikely to change, I strongly believe that by sharing the financial success of the business, we will motivate our staff further, helping them to play their part in building an even brighter future for the business and themselves.”

April 4, 2022, Quod, transitions to employee ownership via an EOT.  Tom Dobson, the new managing director, said: “Becoming employee-owned has formalised Quod’s long-held belief that the success of the company comes from having a great, positively engaged team, where everyone is personally invested and plays their part to ensure we deliver only the highest quality advice.”  He said he also believes that by remaining independent, the company will be be able to retain its culture and reputation, adding: “As a people-focused business, the employee ownership model will provide long-term stability for all colleagues, and ensure we continue to serve our clients with genuine independence.”

March 31, 2022, Vox Pops International, transitions to employee ownership via an EOT. Vox Pops International said it had been looking for ways to secure its long-term future while also ensuring people who work for the company benefit. Diane Earnshaw, founder of Vox Pops International, said: “We are really excited about our move to becoming an employee-owned company.  “We have a fantastic team here and I’m so pleased that they will be able to share in the current and future success of the business.”

March 30, 2022, Metro Walls, transitions to employee ownership via an ESOP.  “This transition is extremely exciting for Metro Walls, and we are thrilled to offer this new benefit to our employees,” said Hussey. “Becoming 100 percent employee-owned rewards our amazing team, keeps them invested and engaged, assists with attracting top talent and allows us to continue our growth and success well into the future.”

March 30, 2022, Caley, transitions to employee ownership via an EOT.   He [Donald John] said: “An EOT was a less intrusive option and we did not have to share sensitive information with prospective purchasers, the timing has been controlled to suit the business, and it also avoided the risk of unsettling our staff who may have picked up that the business was for sale.”  “We value the relationships we have built with our customers, their loyalty and support are what’s made Caley Timber the very successful business it has become, and an EOT means business simply continues as is. I am confident our customers will notice absolutely no difference at all to the quality of service.”

March 24, 2022, Milk and Honey, transitions to employee ownership via an EOT.  This change puts power into the hands of team, giving them the controlling interest in the business, says Lizzie Elkin, EOT president and senior client executive at Milk and Honey.

March 23, 2022, Symbiont Service Corp, transitions to employee ownership via an ESOP. No other family members expressed interest in taking over the company. She could try to sell the business — but she wasn’t sure that was the right solution.  “I was concerned about selling to a third-party person who didn’t really know our culture and our people, and who would come in and start changing things around,” says King, who’s worked at the company since 1996. “I recognized that the strength of the company is its employees, and I wanted to do right by them. I didn’t want to have a succession plan that only took care of me. I wanted it to be symbiotic and take care of the employees too.”

March 22, 2022, Natare, transitions to employee ownership via an ESOP.  Michael Walsh, who founded and has owned the company opted to transfer the company’s ownership to its employees rather than selling to another entity. Walsh said it was important to preserve the Natare culture and reward its employees who have helped grow the company into what it is today.

March 22, 2022, Engage Technical Solutions, transitions to employee ownership via an EOT.  Engage Technical Solutions chief executive David Gagen said: “We are delighted to have worked with Womble Bond Dickinson to make the employee ownership trust a reality. We couldn’t have done it without the advice, support and technical expertise of the WBD team.”

March 17, 2021 FSSI, transitions to employee ownership via an ESOP.  Our employees are trusted and valued team members and we want them to benefit beyond their wages as they work together to help grow FSSI,” said Founder Jon Dietz. “By creating an ESOP, our employees get an opportunity to own a piece of the business that they have contributed to through their hard work and loyalty.”

March 17, 2022, Esteem Training, transitions to employee ownership via and EOT.  Martina Höfner, Esteem Training’s operations director said: “Ethical business practice, celebrating diversity and nurturing talent to create opportunity lies at the heart of everything that we do. Research has shown that a combination of shared ownership and employee participation results in a business that is more engaged, productive, innovative and sustainable. We’re therefore delighted to make this important move to employee ownership to reward our outstanding team, ensuring that the future direction and ownership of the business remains in their capable hands.”

March 16, 2022, Universal Screen Arts, transitions to employee ownership via an ESOP. CEO and President, Matthew Bender, stated “Our founder and majority owner, Jared Florian, wanted to ensure the legacy of Universal Screen Arts. He and the leadership team wanted an ownership succession that maintained our company culture, our leadership team, our employees, our physical presence in our current locations, and provided the biggest wealth sharing opportunity to all our dedicated employees. An ESOP was the only solution that checked all these boxes. We are extremely excited about this next phase for Universal Screen Arts and look forward to sharing our future success with all of our new employee owners.”

March 16, 2022, British Rema, transitions to employee ownership via an EOT.  John Camern, said: ‘British Rema intend to stay put and grow from their current base. The new ownership structure makes it an attractive option for new staff and highly motivational for existing staff. We have also announced the introduction of a profit-related bonus scheme which will see staff immediately share in the company’s financial success.’

March 12, 2022, Tri-M Group, transitions to employee ownership via an ESOP.  “This is an extremely important moment in our company’s history,” said Bauguess. “We’ve always placed our employees first, and this transition will be a natural progression for us. The ESOP demonstrates our commitment to our team and allows them to take part in our future success.”

March 11, 2022, Kilmac, transitions to employee ownership via an EOT.  Founder Athole, 53, said: “We have to look to the future and by creating an EOT, Kilmac will be in the safe hands of our excellent senior management team. It’s good news for Tayside, with the vast majority of our staff living in Dundee, Perthshire and Fife, and it ensures the company will continue to provide stability for our customers and job security for our employees.”

March 8, 2022, Nelson-Rudie & Associates, transitions to employee ownership via an ESOP.  For Nelson-Rudie president Michael Woehrle, PE, P.Eng., this transition ensures the legacy and longevity of the 46-year-old company. “Our employees are our greatest assets. We are proud to name them employee-owners and excited to continue the management expansion by appointing four new principals to the company,” said Woehrle.

March 7, 2022, Alan Steel Asset Management, transitions to employee ownership via an EOT.  Mrs Steel added: “ASAM is a close knit group and we have a number of families working within the company, and so adopting employee ownership felt like a logical step for the business, and Alan recognised this from the beginning. “Employee ownership will provide stability for all associated with ASAM. Alan worked on five principles when he started the company: Knowledge, integrity, innovation, fairness and fun. These were fundamental to the way he operated and the legacy he was determined to leave at ASAM, and this succession model is the best way to secure these principles and his legacy.”

March 4, 2022, Pro-Networks, transitions to employee ownership via an EOT. Chief executive, Geoff Coote, said: “A great deal of effort and planning went into structuring this deal with the interests of customers and employees as the absolute priority.  “By gifting his shares in Pro-Networks to the EOT for the ultimate benefit of our employees, Paul has ensured his positive and long lasting legacy.  “Each and every one of our valued employees has a genuinely vested interest in continuing to serve our customers to the very best of their ability. We are very excited for what lies ahead for us as a business following this change in structure.”

March 3, 2022, Craggs and Moorland Fuels, transition to employee ownership via an EOT.  Group chairman Chris Bingham, said: “I’ve been considering the option of employee ownership for quite some time and when we looked into the benefits and alternatives available to us, an EOT was the obvious choice as it allows the existing shareholders to plan their exit over a longer term while transferring the benefits to the employees. “As successful and ever-growing businesses, we could have sold to a third party, however, I place great value on my team and wanted to be able to reward the people who have grown the businesses to where they are today.

March 3, 2022, Dale Medical Products, transitions to employee ownership via an ESOP.  Bob Simpson, the new President and Chief Executive Officer of Dale comments “As an employee-owned company, we will preserve the Dale legacy of providing highly trusted medical products to help caregivers and patients worldwide. Our employees have always taken extraordinary pride in the positive impact we have on patient care, and now they can benefit further as stakeholders in our company.

March 3, 2022, i2C Architects, transitions to employee ownership via an ESOP.   i2C Co-Founder, Anthony Merlin, says the plan has been created in order to enhance the culture of the practice and to ensure strong design talent is recruited and retained.  “The plan aims to retain our strong existing talent while offering unprecedented opportunities; we look forward to providing our senior associates with a pathway to business ownership that they may not otherwise get in other companies,” he says.  “We truly value our team, and we want them to find value too, have a sense of ownership and become more aware of the business’ performance. Additionally, we are confident we will also be able to attract strong talent within the industry once we have built up further equity in the trust, as a result of this unique offering.”

Feb 28, 2022, TCW, transitions to employee ownership via an ESOP.  “The Employee Stock Ownership Plan provides continuity and stability for our TCW Family, our suppliers and our customers. I have always wanted TCW to thrive for many generations beyond me and to reward those who have helped build it the last 74 years and counting,” George states.

Feb 28, 2022, Fitzgerald Contractors, transitions to employee ownership via an EOT. Coley said: “We consider that an employee-ownership trust model is ideally suited to Fitzgerald’s philosophy and the thinking behind employee ownership has businesses exactly like ours in mind.  “This is a very exciting stage in the company’s history and safeguards Fitzgerald’s future for the benefit of all employees.”

Feb 21, 2022, Benard Sims Associates, transitions to employee ownership via an EOT.  Bernie Sims, MD commented “Having been at the forefront of the company for the last 26 years, myself and Jackie wanted to understand the options available for the succession of the business. After being introduced to Employee Ownership Trusts and understanding their suitability for our business and our employees, it seemed natural for this to be the next step for us. This transition marks a commitment from all of us at Bernard Sims Associates to capitalise on some of the fantastic growth opportunities for our business and continue delivering value to our clients. We would like to thank Simon and the team at Price Bailey for their support and advice throughout this process.”

Feb 17, 2022, Gliderol, transitions to employee ownership via an EOT. Managing director Roy Sinclair said: “The establishment of employee ownership through the Employee Ownership Trust at Gliderol will provide continued job security for all staff.  “It will also enable the employees to effectively have collective control of their future to continue to deliver our market leading products and service.”  He added: “Employee ownership makes us less vulnerable to acquisition and therefore any interruption to the supply of our customers’ products.  “It is also securing the future of the business, including its ethos, values and employees, while rooting itself for the longer term to the benefit of the customers which it serves. It’s a win-win all round.”

Feb 17, 2022, SSQ, transitions to employee ownership via an EOT. Jonathan Field, joint group chief executive at SSQ, said the move was “the right outcome for our employee colleagues, SSQ’s ongoing management team and our selling shareholders”.  Howes added: “This is a fantastic outcome for the team at SSQ and creates an organisation with a new structure that can effectively drive employee engagement and business performance going forward.  “We’re seeing more and more business owners appreciating the benefits of the employee ownership model, which offers an increasingly attractive succession route and far less disruptive than other exit options.”

Feb 15, 2022, Columbus Chemical Industries, Columbus Chemical Industries transitions to employee ownership via an ESOP.  After nearly 44 years in business, Columbus Chemical Industries (CCI) has transitioned to a 100% ESOP (Employee Stock Ownership Plan) owned company. In an announcement made on January 27, 2022, company founder, Richard Sheard outlined how important it was that the CCI employees who helped grow a strong, prosperous company should share in its ownership into the future.

Feb 14, 2022, Jephsons, Jephsons transitions to employee ownership via an EOT.   “Jephson has always cared about the company and the local community. This next stage of the business life cycle demonstrates that the owners care about the company and staff, with Ian Jephsons still around to offer the support of a sounding board when needed. “It’s allowed the family business to continue the Jephsons story, keep pushing forward, and grow it to become more successful than ever has been.”

Feb 11, 2022, Terence O’Rourke, Terence O’Rourke transitions to employee ownership via an EOT.  After 36 years in private ownership, Terence O’Rourke Ltd has established an employee-owned trust with the aim of securing a more sustainable succession strategy and removing financial barriers to future leadership.  Chairman Tim Hancock said: “The establishment of the EOT will provide comfort to clients regarding the long-term independence of TOR whilst enabling employees to have collective control of their future, benefitting directly from the company’s success.”

Feb 10, 2022, Future Care, Future Care transitions to employee ownership via an ESOP. MyFuture was designed specifically for the employees of Future Care. Brenton Eisenreich added, “This is an extraordinary moment for us all. We did this so that as our employees continue to work hard to make Future Care successful, they’ll reap the benefits of that success.  “It took the hard work of many to get to where we are today, and we decided it was our time to give back, so we chose to give back in a way that sets our employees up with a meaningful financial opportunity”

Feb 10, 2022, Orbis Partners, Orbis Partners transitions to employee ownership via an EOT. [Founder] Grenfell said: “We have always been focused on our people and creating opportunities for the talent within our team to flourish and receive the right recognition and financial rewards.  “We are proud of the team and the culture we have created, and in a people driven business feel that this is better developed under a wider ownership structure.”

Feb 8, 2022, Pizza Shuttle, Pizza Shuttle transitions to employee ownership. The owners sold the pizzeria to a parent company that gives 80 percent of the business back to the employees.  “We’ve always had employees here a long time. I think the average person has been here about seven years,” said one of the founders, Mark Gold.  The company has about 80 employees at all times. “We wanted to make sure all of the employees received something,” said Gold.

Feb 2, 2022 Nikwax and Paramo, Nikwax and Paramo transition to employee ownership via an EOT.  Discussing the transition, [founder]  Mr Brown commented: “By passing on the business to the employees, I feel that I am not only looking after them, but also looking after the interests of our loyal customers. Outdoor people have come to have high expectations of Nikwax, at many levels, and I would not want them to be disappointed. So many companies end up being aggressively taken over and broken up and lose their soul. This is our best shot at avoiding that and continuing the guiding principles.”

Feb 2, 2022, Newhall Publishing, Newhall Publishing transitions to 100% employee ownership via an EOT.  [Chairman] Douglas said: “Preserving the long-held cultural values of the business was paramount to me and after 40 years in the business it was obvious that employee ownership was a natural progression. “My goal of creating a sustainable future for the business, and indeed an exciting succession, has been achieved. And as Newhall celebrates 60 years in business, now is the time to stand back and let others lead the team.

Feb 1, 2022, Kidzcare, Kidzcare transitions to employee ownership via establishment of an EOT.  “The staff at Kidzcare have supported me [Anne-Marie Dunn Co-Founder] throughout this journey and I couldn’t reconcile myself to the idea of passing it on to anyone else.  “As I looked to withdraw from the business, I wanted to find an option that rewarded and empowered the staff into the future. As soon as I heard about employee ownership, I was instantly convinced that this was the vehicle to make it happen.”

Jan 26, 2022 Imtra, Imtra transitions to employee ownership through establishment of an Employee Stock Ownership Plan.  Imtra has always been a company with a focus on employee satisfaction and personal growth,” Braitmayer said in a statement. “Passing ownership along to our (employee) team is an honor and very much in line with our company’s core values. We believe that transferring ownership to those who’ve been instrumental in building this company is a great way of rewarding their efforts and keeping them a part of building the future of Imtra.”

Jan 25, 2022, Schebler Company, Schebler Co, transitions to employee ownership through establishment of an Employee Stock Ownership Plan.  The Schebler Company employees will significantly benefit from their ownership via continued job security, the addition of a substantial retirement wealth benefit and a planned transition of the business’s investors and Board of Directors. The transition to employee ownership is also a win for customers, who are ensured continued access to Schebler’s unparalleled products and services, plus strong customer support from highly motivated employees.

Jan 24, 2022, GreyHawk, Greyhawk transitions to employee ownership through establishment of an Employee Stock Ownership Plan. “GREYHAWK leadership saw restructuring into an ESOP as the best option to allow for increased ownership among all of our employees, while ensuring that our succession planning can take place from within the organization,” explained Kerins. “GREYHAWK will continue to deliver the same high level of construction services, and now every HAWK has a vested interest in our success.”

Jan 21, 2022, GuitarGuitar, GuitarGuitar has transitioned to employee ownership through establishment of an EOT.  “We’ve spent the last 20 years building a brand that we are wholeheartedly passionate about,” said Bell [GuitarGuitar Co-Founder]. “We wanted to ensure the business means something to future owners when our time comes to take a step back.” “Not only did we want to reward staff for their efforts at the company but we also wanted to ensure our customers will always be front and centre,” he said. “Every experience a customer has at GuitarGuitar will now be with someone who is invested in and committed to delivering outstanding service to musicians.”

Jan 21, 2022, The Family Law Group, The Family Law Group transitions to employee ownership through establishment of an EOT.  Director Simon Leach said: “I am delighted that we have been able to finalise the transfer of ownership of this firm to the most important people within it, its highly talented staff. “This move is about empowering our lawyers to take ownership of the firm in respect of its direction and commitment to our core values and purpose.  “They will now have a greater input in to the day to day running of the firm, and the decisions that are made as we grow.

Jan 20, 2022., Lightspeed, Lightspeed transitions  to employee ownership through establishment of an ESOP.  “We take pride in ownership, which starts with ensuring educators are satisfied with our products and service,” said David Solomon, CEO at Lightspeed. “This transition has been part of a long-term strategy going back to Lightspeed’s founders and our core values and mission. We’re in it for the long run with our customers and employees.” “For more than a decade, our board has looked to provide all investors–many of whom were with us from the beginning–a strong liquidity exit and to fulfill our founder’s goal of becoming 100% employee owned,” said Dan Meub, Chairman of the Lightspeed Board of Directors. “We were able to provide strong returns for all investors and become completely employee owned, while preserving a healthy balance sheet for future growth. This will help preserve Lightspeed’s special culture and legacy for decades to come.”

Jan 14, 2022, Formative Content, Formative Content transitions to employee ownership via an EOT.  Flashman explained that the organisation is “really proud” of what it has achieved over the past seven years, growing to a team of nearly 80 people.  “We’ve always aimed to be a people-focused business and our success is down to all of our team members. Employee ownership is therefore a natural progression for us, ensuring that the future of the company remains firmly in the hands of the people who share our values and vision of the future,” she said.

Jan 14, 2022, Safeway Stores, Safeway transitions to employee ownership via an ESOP.  Scott Weaver, owner of SAW Capital, Safeway’s parent company, announced Thursday the creation of SAW Ventures Inc. as a new ESOP, or employee stock ownership plan, establishing a trust that will distribute yearly profit-related bonuses to more than 150 employees.  “I felt the time was right,” Weaver said of yielding ownership. “I wanted to figure out a way to reward my employees who helped me achieve my success.” “I thought the best way to reward my management team and my employees,” Weaver said, “was to give them what everybody really thinks and dreams about, I think, in their lifetime: Wouldn’t it be great if I owned a company?”

Jan 13, 2022, Ison Harrison, Ison Harrison transitions to 100% employee ownership through establishment of an EOT.  Jonathan Wearing, who is managing director of Ison Harrison, said employee ownership was “by far the most palatable” option the trio considered, partly because it did not involve taking on debt.  When they were considering succession planning, Mr Wearing said the directors also looked at a management buy-out, merger or sale.  All of these options would have involved third parties. The first two would also have involved banks and debt, and the third one a “culture change, not a culture enhancement”.

Jan 12, 2022, Hughston Homes, Hughston Homes transitions to 100% employee ownership through an ESOP.  “Since Hughston Homes’ formation in 1972, the company’s philosophy has been to empower its employees to treat the company as if it were their personal franchise, to build the best possible home, and to provide a first-class homeownership experience to our Hughston Homes Family. I am extremely pleased that after nearly half a century, Edgar’s passionate work has turned his dream into a reality. Our hard-working employees now have an opportunity to accumulate financial well-being not only through compensation but now through our ESOP as well. Equally, our buyers can now have an increased level of assurance that Hughston homes will be here for their new home needs well into the future. Congratulations to all!” said Eubanks.

Jan 11, 2022, Radix Communications, Radix Communications transitions to employee ownership through establishment of an EOT. [Director] Reynolds said: “As Radix continued to grow, it became obvious that our hardworking people deserved to benefit more directly from their success. We’re one team, and this new structure feels like a good reflection of that. Now we’re ready for the next step of the journey.

Jan 7, 2022, Vantage LED, transitions to employee ownership via an ESOP.  “These changes will serve to usher in the next phase of growth for us,” explained Mr. Ma, “We are setting the stage for expansion in many ways like acquiring other great companies, hiring new talent to join the family and of course our new CEO and ESOP. Without the dedicated people at Vantage, we couldn’t make this happen and I couldn’t be more proud.”

Jan 6, 2022, Consumers Pipe & Supply Co, transitions to employee ownership via an ESOP. Michael Abeling, President & CEO stated, “Each employee of Consumers Pipe & Supply Co. is a trusted team member. We want our employees to feel that they ‘own and operate’ their own business which fosters tremendous pride resulting from owning a stake in the company. We also want our hard-working and loyal employees to benefit beyond their wages alone if they continue to help grow their company. Together we strive to be more efficient, safe and responsive to our customers’ needs.”   Abeling decided to implement this plan because he felt it was the best and most sustainable path forward for the employees and managers of the company in a manner that protects the legacy his family has built. “Legacy was a critical factor in selecting this transition, but equally as important was ensuring that anything we did as owners would also help the employees succeed.”

Jan 6, 2022, Birkey’s Farm Store, Birkey’s Farm Store transitions to 100% Employee Ownership via an ESOP.  “Our employees are the reason for our success and creating the ESOP will recognize and reward them for their efforts going forward,” said Mike Hedge, Birkey’s President and CEO. “Being employee-owned allows us to preserve our culture for many years in the future, and provides us a way to move forward seamlessly and achieve our goals, while preserving the service our customers have come to expect.”

Jan 6, 2022, Bardenay, Bardenay transitions to employee ownership via an ESOP.   Settles says the company has many long-term employees. The first Bardenay Restaurant and Distillery opened on Boise’s Basque Block in 1999. In the years since the company added locations in Eagle and Coeur d’Alene and branched out with a new brand — Coyne’s in Eagle in 2021.  The ESOP model allows Settles, 63, and his wife the ability to plan for the future as they move toward retirement.  “We had two goals. One was to leave a company that is happy, healthy, and ready to grow. And B to help longtime employees with their retirements.”

Jan 5, 2022, Hot Frog Print Media, Hot Frog Print Media transitions to employee ownership via establishment of an ESOP.  “We have a fantastic team of professionals serving the greater PA area from our Mechanicsburg location; they truly deserve the blessing of becoming owners of the company. I’m so proud of them,” Jim Geedy, who purchased the company in 2010 said in a joint news release with the Mechanicsburg Chamber of Commerce.

Jan 5, 2022, The Rhoads Energy Family of Companies, The Rhoads Energy Family of Companies transitions to employee ownership via an ESOP. “Since the very beginning, our company has focused on nurturing our connections with the community,” Company Rhoads Energy CEO MIke DeBerdine said in a news release. “The ESOP is a game changer because it rewards employees directly for our success, and because it spreads ownership to the people who live and raise families in the region we serve.”

Jan 5, 2022, Providence Engineering, Providence Engineering transitions to employee ownership via establishment of an ESOP.  “This is a real win-win for us,” Providence employee, Brett Smith said in a news release. “We have a 401(k). Now we add an ESOP. I’m looking forward to what’s next for Providence.”

Jan 4, 2022, Bull Moose, Bull Moose transitions to employee ownership.  “As we’ve grown over the decades, it’s always been a collaborative effort. Our team is local, loyal and hardworking, and together we’ve built one of Northern New England’s greatest brands from the ground up. I’m very proud of what we’ve accomplished,” he [Founder and owner Brett Wickard] said in the news release. “Maintaining local ownership will continue Bull Moose’s mission to connect, inspire, and entertain folks with our inexpensive, fun, collectible stuff.”

Jan 10, 2022 Kitsbow, Kitsbow transitions to employee ownership via an ESOP.  “When the opportunity to buy the brand and all of its assets became available, the employee leadership was unanimous in doing so as a public benefit corporation, and immediately starting the process for certification as a B Corp as well,” explained David Billstrom, CEO of Kitsbow.

Dec 31, 2021, JND Holdings, JND Holdings transitions to employee ownership via an Employee Stock Ownership Plan.  Keith Johanneson, former president and CEO of JND Holdings shared “As I’m working towards retirement, none of my family members wanted to continue in the business. We didn’t want to sell it to an outsider, so we made the decision to form an ESOP,” Johanneson said. “My job is basically to oversee the ESOP documents and make sure we’re totally in line with what the regulations are and to look for new opportunities and coach our top management team on new ideas as we grow.”

Dec 30, 2021, Coldstream Logistics, Coldstream Logistics transitions to an employee owned company.  “When employees have an ownership stake, they think of their business differently,” Mr. Zugell said. “They’re no longer working for an owner.”

Dec 23, 2021, DK Pierce and Associates, DK Pierce and Associates transitions to employee ownership via an ESOP.  Denise Pierce, the company’s founder, president and CEO, knew from the beginning of her more than 20-year tenure that she didn’t want to sell to a larger company. “I wanted DKP to always be independent and to be able to operate in our areas of maximum expertise and impact,” Pierce stated in a press release. “We don’t want to become generalists. We have always been specialists — working with clients around the country to ensure access to clinically meaningful oncology, rare disease, and gene/cell therapy products. We’re here to stay in this unique niche — and in Indiana.”

Dec 22, 2021, George & Lynch, George and Lynch transitions to employee ownership via an ESOP. “Like all excellent employees, our workers have other options, and we are grateful for their efforts and dedication that have made this company what it is today,” Baker [George & Lynch President] said. “We hope that this ownership change both recognizes their hard work, and helps promote retention and improve recruitment.”

Dec 22, 2021, PFlow Industries, PFlow Industries transitions to employee ownership via an ESOP.  “This transaction not only honors our founder, Bob Pfleger’s legacy by continuing our commitment to pride in ownership, it also encourages a performance model that is primed for continued sustainable growth while providing the opportunity to spread our wealth among our employee-owners,” said Pat Koppa, PFlow President.  “At a time when employee recruitment and retention are challenging, we believe that employee-ownership is a competitive advantage that attracts top talent. Our ESOP provides each employee-owner with the opportunity to directly share in the success that they help create,” said Pat Koppa.

Dec 17, 2021 WG&R Furniture, WG&R Furniture transitions to employee ownership via establishment of an ESOP.  CEO Greene told the Green Bay Press Gazette that he preferred giving employees ownership over selling the business to a private equity firm or a competitor. Greene, a third-generation owner since 2000, said it’s important to him that the company culture does not change and for the business to remain in Green Bay.  Additionally employees will likely feel more engaged, as they’re incentivized more to care that the company does well.

Dec 15, 2021, Clear Marketing, Clear Marketing transitions to employee ownership via establishment of an EOT.  Smith said he and the directors knew that handing the business to another agency or investor would not be in the interest of its 20 employees and long-standing clients following a strategic review carried out back in 2008.  He explained that it feels like a fitting time for him to step down from the organisation as its 20th anniversary approaches, and said it is with “immense pleasure” that he hands it over to the rest of the staff to “continue to flourish”.  “The agency is incredibly proud of its relationships, many of which span over 10 years; it was clear that the EOT approach was the right approach for all, providing security for the team and clients with the continuity with which they are accustomed,” he said.

Dec 15, 2021, TTP Group, TTP Group transitions to employee ownership through establishment of an EOT.  The Melbourn Science Park-based company, which has always had elements of employee ownership within its structure, believes that its move to 100 per cent employee ownership will support its future growth by making it a uniquely attractive destination for the most capable scientists and engineers.  Dr Peter Taylor, chairman of TTP, said: “Employee ownership has always been at the heart of TTP’s philosophy and culture. It gives us the freedom and incentive to explore, innovate, evolve and invest in the company as we see fit.

Dec 13, 2021, Wells Media Group, transitions to employee ownership via an ESOP. “We have terrific people working at WMG. They’re talented and have a wonderful work ethic.” says Chairman Mark Wells. “It just felt right to me to sell my company to my employees.” Mark will continue to serve as Chairman of the Board of Directors.  The company has offered quarterly profit-sharing and open-book management for many years already, according to CEO Josh Carlson. “The employee mindset at Wells Media Group has always been one of growth and empowerment. We want everyone to see how their actions influence the bottom line, and we want them to share in the upside. This next step in our evolution is exciting for everyone.”

Dec 12, 2021, Zaha Hadid Architects, transitions to employee ownership via an EOT. Employee ownership at ZHA will cultivate the stills and diversity that dries our decision-making and give every member of our team a voice in shaping our future.

Dec 8, 2021, Securityhunter, transitions to employee ownership via an ESOP.  According to Rogers [founder of Securityhunter], “I’ve been trying to do this since 2014. We just never gave up on figuring out how to endow our employees with the amazing benefit of sharing in the ownership of our company”. He added, “I am thrilled to have our people as employee-owners”

Dec 7, 2021, Greentech Sportsturf, transitions to employee ownership via an EOT, Mr Brunton said: “It will also enable the employees to have collective control of their future, directly benefit from the ongoing success of the business.  “Employee ownership means clients need not be concerned with Greentech Sportsturf being acquired and the potential associated disruption that can lead to.”

Dec 7, 2021, HR Essentials, transitions to employee ownership via an EOT. A statement provided on behalf of the directors said: “Our vision since starting in 2006 was to build a business that not only cared for its clients and candidates but also to provide a company that provided its colleagues a positive environment in which they could thrive.  “Over the last 15 years, we have done our utmost to stand by this vision. During the last 2 years of uncertainty, it has been the team as a whole that has stood true to our culture, so what better way to reward all those involved than to become Employee Owned.”

Dec 3, 2021 Hughes-Peters, Hughes-Peters transitions to employee ownership via an ESOP. “We did not get to where we are today without a long list of dedicated and loyal employees, some that are no longer with us. Selling the company outright was not an option,” Okel, who is president of Hughes-Peters, said. “We’ve had a year of celebration for our company’s 100th year in business and there is no better way to cap it off.”

Dec 3, 2021, The Folio Society, transitions to employee ownership via an EOT. According to the publisher, the move reflects its values and is an example of progressive sharing of power and profit in publishing. Its only beneficiaries will be those who work in the business, with social enterprise, employee wellbeing and engagement driving the approach.

Dec 3, 2021, WG&R, transitions to employee ownership via an ESOP. CEO Greene said every business eventually faces ownership transitions and his preferred option was to give employees ownership of the company.  Alternatives like selling to private equity firms or a competitor would not have been fair to employees who work hard everyday to make the company successful, he said.  “I’m proud of the legacy the ESOP will leave. All good things come to an end in terms of ownership. I just believe the people who make the company run need to benefit from the company’s existence,” Greene said. “There’s less risk of dramatic culture change or employees losing their jobs.”

Dec 2, 2021, Bridge Road, An Australian brewery transitions to employee ownership via an employee share scheme.  There were several intentions behind the employee ownership scheme for Bridge Road, explained Kraus.  “It was like when you have KPIs, those KPIs are there to drive the right kind of behaviours, and a share scheme is not too dissimilar from that. We want businesses to do better as a result, and want it to drive the right outcomes.”  This includes a sense of ownership and awareness of the financial performance of the business and how individual employees can make an impact.  ”I’m doing this because I value it and my staff and I want them to value it and have ownership.  “If the valuation of business [based around metrics like profitability in Bridge Road’s case] goes up, then their share value goes up, which our staff deserve.”

Dec 1, 2021, Nabco, transitions to employee ownership via an EOT. Nigel and Karen Bass, who are both majority shareholders, have decided to pass ownership of the business to the current employees.  The pair believe an employee ownership trust will allow the team to continue with the company’s success and growth to date, and to expedite it further, while preserving the DNA of the business.

Nov 30, 2021, Davison Fencing, transitions to employee ownership via an EOT.  “The EOT concept offers the best chance of maintaining and preserving our team, as well as demonstrating a long-term commitment to clients, which include tier one construction companies through to public sector organisations. At a time when recruitment and staff retention is an issue throughout the construction industry, the quality of our people gives us a clear advantage, which translates into the level of service our clients enjoy,” managing director Chris Davison said.

Nov 30, 2021, SiteWorks, transitions to employee ownership via an ESOP.  “We honestly felt that becoming employee-owned was the best way to financially dignify the ongoing respect we have always had for our coworkers, many who have been with us from the very beginning,” he said. “We are now fortunate to be the largest privately held landscape company in Arizona. For our company, it absolutely was the very proper way to prepare for our eventual succession plan.”

Nov 29, 2021, IOD Parc, transitions to employee ownership via an EOT. Founder and principal consultant Keen, commented that employees have been central to the business’ mission since it began in 1998 and its continuing sustainability would not have been possible without their hard work and contribution, which senior leadership want to recognise as they look towards the future.  He explained that the team wants to continue to bring in more expertise to strengthen practice and provide field-leading services, feeling confident that a move to an EOT model is the right step to achieve this.

Nov 18, 2021, Cascade Energy, transitions to employee ownership via an ESOP. Cascade Energy established the Employee Stock Ownership Plan to distribute ownership to employees while enhancing its culture and maintaining its focus. Employee ownership allows the company to continue to attract top talent, and to chart its own course towards ever larger positive impacts on the environment and the economy.  “Since our founding 28 years ago, Cascade has had a culture centered on shared success. This is so important to us that Seek Shared Success is one of our five named company values,” says Wilcox. “The ESOP model not only aligns with our values but ensures the continuity and strengthening of our culture. It is with great confidence that I hand off the role of CEO to Dan Brown and depart from Cascade under the banner of employee ownership.”

Nov 17, 2021, Proof Bakery, transitions to employee ownership via an ESOP.  “For the last 10 years, both collaboration and cooperation have been a driving force behind daily operations at Proof,” says Na Young. “Converting to a model where the labor force owns the business only furthers these values by creating shared responsibility and equity. Worker-owners now have a stake in the business.”  Employee ownership fosters a shared mindset that the long-term success of a company can be impacted by each individual employee, and that worker-owners will benefit from their efforts individually and as a group.

Nov 17, 2021, J Greenwood, transitions to employee ownership via an EOT.  Greenwood said: “I’m proud of the business we’ve built over the past five decades and I wanted to put in place a  structure so that the company could continue to operate in its current form, with its current people and its current location.”

Nov 16, 2021, ALTAR Group, transitions to employee ownership via an EOT.  Altar Group chief executive Scott McCallum, who will continue to lead the business, said he hoped the move would give a recruitment edge.  He said: “A big concern for businesses in our sector is recruitment. “A lot of companies are after the skills we look for in our digital team. We want to offer something different for the existing team and in terms of attracting new talent. “We have a fabulous workplace, a great culture in the office and great terms and conditions.  “I think the employee ownership trust (EOT) gives us the opportunity for us to stand out and build an integrated team. The staff are thrilled.”

November 11, 2021, Day’s Jewelers, Day’s Jewelers transitions to employee ownership via an ESOP.  “We probably would have gotten more money from an outright sale. But who really knows what we would have made? We definitively would have gotten our money up front, and we would have been paid sooner. But we wanted to walk away with a situation we were comfortable with.”  “You have the right culture to make it fit,” says Kathy. “If your mission statement is to build a company that stands the test of time, then you really have to stand by that. Of all the exit strategies, it was the best by far. It just felt right for Jeff and me.”

November 11, 2021, Wee Blue Coo, Wee Blue Coo transitions to employee ownership via an EOT.  Bob Kirkpatrick said: “There are perhaps more well-known ways to make an exit from a business, however, this was the only real option to ensure we safeguarded the futures of those who have contributed to our company’s success. The employee ownership trust seems like a perfect and logical way to structure any business.”  Joelle Kirkpatrick added: “Being a people led business has always been the very essence of who we are, which is why becoming an employee-owned business was the only option that was seriously considered.

November 10, 2021, Claygate Distribution, Claygate Distribution transitions to employee ownership via an EOT.  owners Mel and Andrew Streek aim to provide a senior management team structure to manage current business needs and provide a platform for future growth. “We have very experienced staff in all aspects of our business many of whom, have been with us from day one. Only a handful of firms have the confidence to embark on such a journey, but that has only been possible because of the depth of professional staff we have here at Claygate.”

November 9, 2021, ShopBot, ShopBot converts to employee ownership via an EOT.  Hall stated He wanted an exit strategy that allowed the company to continue to thrive and would benefit his hard-working employees. “I believe it will be win-win, because I have some confidence in how the gang is going to do,” he said. “If they do well, the company will do well, and if they do well, the exiting shareholders will benefit, too.”

Nov 3, 2021, Reid & Fraser, A Highland accountancy firm transitions to employee ownership via an EOT. Reid & Fraser is a trailblazer, setting the path for other firms of accountants to follow. They are possibly the first full service firm of chartered accountants in the UK to move to employee ownership so we are sure that others in the sector will be watching with interest to see the benefits it brings, which are many.  “By opting for a sale to an EOT, Stuart has secured the practice in its local community, employment is protected and the firm’s loyal clients will see no interruption to service.

Nov 2, 2021, Chronos Technology, Transition to employee ownership through establishment of an EOT. “Over the years we have established a work ethic that puts the customer first,” Curry continued. “The EOT protects the loyal Chronos family and ensures the customer-facing continuity of the business and, most importantly, safeguards jobs. Going forward, in the hands of the employees, the company will benefit from increased customer engagement and the commitment to a team approach to steer the business on the next phase of its journey.”

Nov 2, 2021,Talbots Law, transitions to employee ownership via establishment of an EOT.  ‘Employee-owned businesses perform better, are more innovative and more profitable and have the security of being owned in a trust, so not subject to being sold or taken over,’ said Morgan. ‘It was the only decision I could make when looking to sell a significant number of my shares and, most importantly, is excellent for long-term planning and vision.’

October 28, 2021, Hollis, Hollis transitions to employee ownership via an EOT.  Woodman said: “Hollis has always prided itself on its independence and as being a business that creates opportunities and supports the progression of its team.  “Over the last few years we have had to consider the future of Hollis and its ownership, ensuring that there are plans in place for a sustainable future that will allow for continued opportunities, progression and succession as well as protect our clients.  “This move will enable everyone who has helped build and develop Hollis over a number of years to participate in the future growth and success of the business.”

October 27, 2021, JF Plastics, JF Plastics transitions to employee ownership via an EOT. Founder John Fieldhouse said: “After considering selling I realised that I did not want to totally part with the company as I’m attached to what I’ve built up and I still enjoy working. I also wanted to make sure my loyal staff are looked after, and I couldn’t guarantee this if I sold to a third party, so I settled on an EOT.  “While the tax-free cash on the earn out will be a massive help for me and my children, the main reason is to repay the staff, particularly the eight or so, who have worked for me for between 30 and 36 years each. I still smile when I think of how this will change their lives in years to come.

October 26, 2021, Baker Electric, Baker Electric transitions to employee ownership via an ESOP. “I’ve considered transitioning to an ESOP for the past few years, and I am happy and excited that this day has finally come,” said President and CEO Ted Baker. “Our hard-working, dedicated employees are the lifeblood of Baker Electric. We are very excited about implementing this structure and confident that the long-term benefits of this plan will not only enhance our company’s performance capabilities for the benefit of our clients and industry partners, but also bring significant value to our Baker Electric team members.”

Oct 26, 2021, Odyssey Landscaping, transitions to employee ownership through establishment of an ESOP.

October 25, 2021, STB Graphic Designers, transitions to employee ownership via an EOT.  CEO Taylor said: “Over the years, I’ve been proud to work with some of the best graphic designers in the business. Our job is to help our clients make more money by selling more stuff, whether cornflakes or cars, simple as that. We are placing it in the hands of the people who have helped it grow over the last 33 years and enabling them to share in its success.”

October 25, 2021, Go Ape, transitions to employee ownership via an EOT. The forest activity business employs around 1,000 UK staff across 35 locations. It also operates in 16 US states.  “Go Ape has always felt like part of our family. We knew deep down we would never be comfortable selling the business to investors,” Rebecca Mayhew said.

October 24, 2021, Colorado Pool + Spa Scapes,  “Our company was owned for the past 20 years by partners who could have sold the business to another buyer, yet the partners wanted instead to find a way that the employees who helped build the company could become owners and preserve the business culture,” Chief Financial Officer Paula Busk Cross.

October 20, 2021, MI-T-M, Mi-T-M becomes employee owned through establishment of an ESOP. Mi-T-M founder and CEO A.J. Spiegel broke the news to over 400 employees at a company-wide event in July. Spiegel said the transition is the perfect way to invest in the employees who have made the company what it is today.  “I had been considering an ESOP for a few years. I wanted the employees to share in the benefits of ownership in the company and I wanted the Mi-T-M culture to live on in the community,” said Spiegel. “An ESOP was the perfect fit. It allows the employees to have an important role in the direction and growth of Mi-T-M. It allows Mi-T-M customers to continue with the long-standing relationships and allows the community to be supported by Mi-T-M as it has been for the last 50 years.”

October 11, 2021 Strategic America, transitions to employee ownership via an ESOP. “At SA one of our core values is ‘put people first,'” said John Schreurs, president and CEO of Strategic America. “This move allows us to do just that and lays the foundation of SA’s future, with our associates and clients at the center of decision-making. Employee ownership offers the ability to remain independent, recognize and reward associates, thoughtfully transition ownership and strengthen the SA foundation — centered on our people,”

Oct 6, 2021, DXW, transitions to employee ownership via an EOT.  “[Employee-ownership] gives the people who work at dxw – our greatest asset – a real stake in the company,” Mann went on. “At a time when SMEs working in the public sector are facing increasing competition from larger and more established players, we think that collective ownership gives us the best possible platform to grow and thrive in the years ahead.”

Oct 5, 2021, Christie Gillespie Consulting Engineers, transitions to employee ownership via an EOT.  Richard Gillespie, Co-founder of Christie Gillespie, said: “This is a move that has been six years in the making. From the get-go Alistair and I were determined to leave a lasting legacy for our staff which centred on our core values of generating exceptional client-driven service.  “We have been fortunate enough to have an extremely high retention rate amongst our staff, with just one colleague leaving us in the six years of operating. It’s this dedication and drive that has reinforced our decision to go down the employee ownership route.”

Oct 5, 2021, Home Beautiful, becomes employee owned through establishment of an employee owned co-op. “When I interviewed at The Home Beautiful, Bruce shared with me he was preparing for retirement, and his desire to form an employee-owned co-op. His excitement about the co-op model and the love he had for The Home Beautiful was infectious, I couldn’t help but be excited about the idea,” said Kim Young, assistant general manager and employee owner. “We are not only employee-owners, but we are also a family, and the co-op has allowed us an opportunity that we wouldn’t get anywhere else,” Young added.

Oct 4, 2021, Ground Construction Group, has transition to employee ownership via an EOT.  “The EOT route will enable us to transition the ownership structure without the potential disruption a sale to new owners might involve, thereby maintaining continuity of culture. It is also an opportunity for us to recognise and reward the contribution our staff make to the development and continued success of the group,” Group founder Trevor Diviney shared.

Oct 4, 2021, Fife, Fife engineering consultancy transitions to employee ownership via an EOT.  Mr Christie said: “We had envisioned this idea of adopting a succession model for the business when we first started. We just didn’t know what that would be.  “We decided quickly against selling to another firm. That would have meant the possibility of staff relocation or job loss and a risk to the company ethos and culture built on strong client focus and communication.  “It became clear through the years that some form of employee ownership model was our number one choice, but we didn’t quite know how it would work.”

Oct 1, 2021, AgriCare, transitions to employee ownership thorough establishment of an employee stock ownership plan.  “This exciting move to employee ownership only seemed fitting when looking back on the legacy of each company and the core values upon which they were established.” Avinelis said.  “As employee driven companies, we now begin this new season where our stakeholders are not just members of a few select families, but employees desiring to receive great value for the expertise and effort they bring to work each day,” he continued. “This move to employee ownership can greatly impact hundreds of families and hopefully allow both AgriCare and Homegrown to attract additional team members to help further company growth and future success.”

Sept 30, 2021, ICS2 Cables, transitions to employee ownership through establishment of an EOT. ICS2 trustee Laura Munro, who is now responsible for the business’ quality systems as part of the management team, explained that adopting employee ownership will protect the interests  and commitment of the team, while also achieving new levels of performance in its chosen growth sectors across the business.  “In order to best support the growth of the company, we look to recognise key areas for development and investment which can consolidate on the previous strengths and successes of ICS2,” she said.

Sept 27, 2021, 1^st Pet Veterinary Centers, transitions to an employee owned company via an Employee Stock Ownership Plan.  “It’s about legacy – we’ve created a great, caring culture and I didn’t want to lose that to a big corporation,” Founder Spencer says of his decision to create an ESOP, a process that started three years ago. “I also wanted to reward those who have helped build this practice and provide a good retirement opportunity for long-term employees.”

Sept 27, 2021, Pennard Vets, has transitioned to employee ownership via an EOT and has become the largest employee-owned practice in the world. Andy Green said: “At a time when many other practices are being taken over by large corporate organisations, we knew that the EOT was the right way to guarantee an independent future for our 99 team members.   “Although we received plenty of interest and offers from the corporates, it was important to remain true to ourselves and our values. “It is increasingly difficult for vets to buy into independent practices and the traditional partner progression model no longer works, so after exploring various possibilities, it became clear that the EOT option was ideal for us and protects everything that we stand for.

Sept 13, 2021, LDA Design, becomes employee owned through establishment of an EOT.  Frazer Osment, chair of LDA Design, commented that each member of the team now has a say in how the business is run and the direction it takes, with employee ownership an “important” way to unlock the “brilliance” of the collective and an expression of faith in each other. “Employee ownership is about empowerment and being part of something bigger and is also a quietly radical challenge to market norms on many fronts, from governance to where profit goes. It gives us an independent future and enables us to put creativity front and centre. Everyone is trusted for the things they are good at, and it is through our projects, and the quality of our thinking, that the values of our employee owners will be most clearly revealed,” he said.

Sept 6, 2021, Buckingham Group, Britain’s largest construction company, to date, to transition to employee ownership via an EOT. “In recognizing the amazing results that are now being achieved more than 30-years later, it is wholly appropriate that ownership of the business is being handed down from its founding partners to an all-embracing model of common ownership under the newly established employee ownership trust.’’

Sept 6, 2021, Microtech Group, Microtech Group becomes employee owned through establishment of an EOT.  According to Chris McMail, managing director of Microtech, he turned down various multimillion pound offers from companies from around the world, which would have included relocating operations from Kilmarnock. McMail had no intention of uprooting the business after more than 30 years in Scotland, and instead opted to reward the organisation’s 70 employees with an EOT.

Sept 1, 2021, White Ink, The White Ink architectural practice in Belfast has become the first wholly Northern Ireland-based consultancy to make the move to employee ownership. Joan McCoy, one of three directors at the company a past president of the Royal Society of Ulster Architects and a previous ‘Best Woman Architect’ winner at the European Women in Construction Awards, said: “We believe employee ownership heralds the start of a vibrant new chapter in the White Ink story.  “Our team now has a mammoth incentive to continue to drive forward the performance of the practice, helping our clients and improving lives through the buildings we create. This is going to benefit clients who, under the leadership of the existing directors, have a team of employee owners more connected to their success than ever before.”

August 29, 2021, Darvin Furniture, Darvin Furniture transitions to employee ownership via an ESOP.  As shared by Marty Darvin “with neither of us having children going into the business, our employees were starting to worry about the future,” says Marty. “And we didn’t want to sell out to some conglomerate that might change the culture that is so precious to us and precious to our employees as well. So making the employees into owners was the solution to that. And having Will at the helm reinforces that because of his core philosophy.

August 24, 2021, Quantis Biostatistics, Quantis Biostatistics transitions to employee ownership via establishment of an EOT. Philip Speakman, chief executive of Quantics, said: “We’re proud of our supportive and collaborative working environment. “Everyone here has been involved in growing Quantics to what it is today, expanding three-fold in the last five years. The new ownership model will help to foster an even stronger culture and collective responsibility to help drive the Quantics of tomorrow. “With the support of Scottish Enterprise and expert guidance from Ralph Leishman, employee ownership specialist, it was a very smooth process, and we all look forward to a great future working together as employee owners.”

August 19, 2021, Norwalk Furniture, Norwalk Furniture transitions to an employee owned company through establishment of an ESOP. “This transition highlights several very important goals for our company’s future,” said White [CEO]. “First, an ESOP is the perfect way to make sure our company’s future growth and profitability accrue to the benefit of the people who make it possible, our employee-owners. Second, it enables us to implement a long-term strategy that will continue to provide local jobs, helping our community to thrive for generations to come.”

August 16, 2021, AUS, AUS Transitions to employee ownership via an EOT. “A key point for owner and managing director, Simon, was that selling to an EOT would ensure ownership succession would not lead to the company being sold to a third party and potentially split up or relocated with staff losing jobs. “This allows the company to continue to operate in its current manner without disruptions to staff or philosophy. “Each employee becomes a beneficial owner of the company through the trust. This is important for the sustainability and progression of the company as each employee has an extra incentive to work hard, take responsibility, and drive the company forward.

August 10, 2021, Oakwood Corporate Services, Oakwood Corporate Services has become employee owned after forming an employee ownership trust (EOT).  “We believe that our status as an independent, employee owned business secures Oakwood’s long-term future and reflects our commitment to technical excellence and outstanding service delivery. We feel that the transition to employee ownership is a fantastic opportunity to build on our successes over the past 12 years, and recognises the loyalty, dedication and sheer hard work of our team,” he [Michael Harris] said.

Aug 6, 2021, Lisle Design, Lisle Design transitions to an employee-owned company through transition to an EOT.  Lisle explained that for some time he has been looking towards a succession plan and had considered a number of options, including selling to a corporate buyer. From there, he decided the best route was employee ownership and to seek the assurance of an EOT.  “After telling the staff about the decision, I was met with big, enthusiastic grins. I want the staff to know that they are valued and that the business recognises the hard work they do day in, day out. At the other end of the company, when our customers and business partners were told of the change they were uniformly delighted that our relationships will carry on essentially undisturbed,” Lisle said.

Aug 6, 2021, A Few Cool Hardware Stores, A Few Cool Hardware Stores (AFCHS) group which is transitioning all 13 stores to an employee-ownership model through establishment of an ESOP.  “I think this puts us in a different class in comparison to other small businesses,” said Frager’s Hardware Manager Aisha Bryant. “Becoming employee owned has sparked an even greater motivation [amongst our team] to continue to give maximum effort.”

Aug 6, 2021, Integrated Facility Services, Integrated Facility Services of Saint Louis who became a 100% employee-owned company through establishment of an ESOP.  “Our employees are what set us apart and now each employee is an owner and personally invested in the success of our projects and clients,” said John Rundquist, IFS president. “The ESOP will help our team feel more empowered to make decisions and take action to create impactful change to address our clients’ needs and our firm’s goals.” “Employee-ownership is another aspect of our relationship-focused company culture, which is demonstrated each day in how we interact with our clients, on job sites, and with each other,” said Rundquist.

27 July, 2021, Target Components, Target Components transitions to an EOT.  “The EOT allows us to abandon our conscience, it was a big part of our thinking. Basically, it’s [for] the employment security of our people who helped us come here, the culture and spirit of our business, and the potential impact of acquiring our relationships with our customers and partners,” [Managing Director Paul Cubbage] he said.

July 21, 2021, ShopBot Tools, Shopbot tools transitions to an EOT. “EOTs are a great option for companies that are too small for an ESOP. They are a flexible and dynamic way to engage and reward employees,” Broughton said. “We are thrilled that ShopBot has become this first EOT in North Carolina, and hope that other companies will consider this model as their founders look to exit.”  The EOT helps position ShopBot for long-term growth and success, affirmed Jeanne Taylor, ShopBot CEO, and will build on the company’s efforts to create an engaged employee culture. “We’ve had strong growth coming out of the pandemic, and we have a fantastic team of employees making it happen,” said Taylor. “The EOT will only make our culture stronger.”

July 21, 2021, McGohan  Brabender,  McGohan Brabender becomes an employee-owned company. CEO Scot McGohan says “We always wanted to be local and stay local,” he says. “And so we worked a long time trying to figure out how we make sure that we protect our independence to protect each city that we serve. And the best solution that came about was an ESOP.”

July 15, 2021, Realityworks, The Eau Claire-based educational products company recently announced it has transitioned to a 100% employee-owned enterprise through a sale to the Realityworks Employee Stock Ownership Plan.  The company transitions from 22% to 100%  employee ownership.  “We have been working toward this for a number of years,” said Timm Boettcher, president and CEO. “We have such a culture of employee ownership already that this is just a natural fit for us.”

July 14, 2021, Curtins,  Curtins transitions to Employee Ownership. Announcing the news on Wednesday, chief executive Rob Melling said: “What we’re doing is so aligned with Bill’s philosophy and principal of making sure our people are at the heart of our company.

July 13, 2021 Winch Design, Winch Design transitions to employee ownership via an EOT.  “Andrew has long been a visionary in the industry and this has inspired us to develop a truly innovative studio, both in terms of the projects we design and the management style we adopt. Employee ownership will enable us to stay true to our colours, serve our clients even better and further empower our next generation of talent,” Aino Grapin CEO.

July 7, 2021, Winch Design, Andrew [founder] commented in a statement: “I am immensely proud of the team. Today’s announcement is another exciting milestone in our history and such a natural progression of all the great work that has been done to get us to this point. I believe every single person at Winch Design is exceptional and it is their collaborative spirit that is the true strength of the Winch studio. I thank them and also extend huge thanks to our many clients and friends in the industry who have helped us to reach this exciting moment. The Winch DNA is unique and will only get stronger as the adventure continues. 2021 is a special year for Winch, as we celebrate our 35 years in business, but I am so excited to look forward as the next chapter in our history unfolds.”

July 5 2021, Alex Haulage, Axle Haulage has become an employee-owned business, with the Dunstable-based operator’s new employee ownership trust (EOT) owning the majority of the business.

July 5, 2021, DJS Research,  Daniel Sims, owner and chairman at DJS Research, said: “We are so proud of the company we have created and how it has grown and evolved, and it’s really important that we protect its legacy and ensure it remains independent for many years to come.  “Employee ownership is a way to do this; it’s progressive and forward-thinking and offers a way to give back to our incredible and talented workforce who have made DJS Research everything it is today.  “The company is going from strength-to-strength and our 20th anniversary is the perfect time to start our exciting new chapter. We will continue to listen to our staff even more than before and deliver excellent research, while showing our clients the value of an employee-owned company through everything we do.”

July 5, 2021, Alliance Disposables, MD David Elder commented: “Alliance has always been particular about maintaining a long-term relationship with its customers and staff.  “To ensure that those values can be sustained, necessitated us taking a more progressive approach, and this has resulted in the transfer of the business to employee ownership.  “Often, the sale of a business results in significant disruption and change. We see this as a solid way of maintaining stability and to continue the growth and development of Alliance.  “We look forward to our employees sharing in the future success. Prospects for future growth are looking exceptionally positive.”

June 30, 2021, Clean Scapes, Clean Scapes recently transitioned to an 100% employee-owned company through an Employee Stock Ownership Plan (ESOP).   “The success of our company can be directly attributed to the culture we have created and maintained at Clean Scapes,” said Ivan Giraldo, co-founder and president of the Austin-Texas based company. “Transitioning to an ESOP allows Clean Scapes to maintain its character while executing its vision of becoming Texas’s most trusted commercial landscape partner.

June 26, 2021, Ward Lumber, “Ward Lumber is a 130-year-old, fourth-generation company, and I didn’t want to see our business end,” Ward Lumber CEO Jay Ward said. “We have 50 wonderful men and women I wanted to honor and continue this business for them. We need Ward Lumber to continue to serve our community.”

June 25, 2021, C21, C21 transitioned to an EOT.  According to C21, the EOT will make a material difference to staff by protecting the agency’s independence and commitment to clients, while offering the stability of a gradual and clear transition to new leadership. It will also provide a structured succession plan for founder Christina Clarke, who established C21 in 1998 and will remain in her current executive role to oversee the transition, with plans set up for her to become chair in the future. Clarke said that becoming an employee-owned business is a “landmark moment” that provides an opportunity for the team to take the next step in their careers and ensure the service to clients continues to strengthen and grow, as employee ownership was the “clear and obvious” future for the company.

June 20, 2021, Coastal Recycling, Emily Delve, Coastal Recycling’s commercial director, says, “This fantastic news means the business is now operated for the benefit of all the 140 people who work here. Our teams feel invested in the business and have a direct incentive to build a successful organisation that continues to deliver great service to customers. Staff will also share in the Group’s financial success through profit related bonuses.”

June 17, 2021, Preferred Strategies, Preferred Strategies transitions to employee ownership.  “Our team takes tremendous pride in providing the highest quality service and support to our global portfolio of clients every day, and our success to date is directly attributable to their hard work and dedication,” said Adam Crigger, Founder and President. “The decision to transition to an ESOP serves as a commitment to further involve our team members as we grow our business by expanding our product offering and executing on our strategic plans for the future.”

June 15, 2021, McGohan Brabender, McGohan Brabender is now employee owned, the Moraine-based benefits brokerage announced Tuesday. “What an ESOP is probably at the highest level, is a wonderful retirement plan for employees of an organization, “ said CEO Scott McGohan. “As they retire and evolve out of the organization, they get equity in their organization and paid out over time.”

June 15, 2021, Ascento, Ascento transitions to an Employee Ownership Trust. As outgoing owner, Chris Ash, says “I am excited to step aside as the sole owner and cannot wait for the whole team to share in the next exciting stage of our journey. “Becoming employee owned means we are stronger together, means we can all share in our successes and means the culture we have strived, and continue to strive, to develop is maintained through a collective spirit and drive”.

June 14, 2021, Salad Creative, Salad Creative becomes a 100% employee owned company via an EOT.  Managing director Arabella Lewis-Smith said: “From our humble beginnings, the last 20 years of Salad have been a brilliant journey and I’m delighted to mark this significant anniversary with a move to employee ownership.  “I have always believed that, as a leader, you work for your team and it’s your job to inspire the next generation of leadership. “So, when my co-director, Andy Brown and I considered the future of the agency, we wanted to ensure both our sustainability as a business and the empowerment of our team.  “As we weighed our options and discovered more about employee ownership, we felt that an EOT was the perfect fit.”

June 7, 2021. QPS, QPS Employment Group, a Wisconsin-based staffing firm, announced today that it completed its transition to an employee-owned company with an employee stock ownership plan, or ESOP. “I’m so proud that now with this transition, our employees will be recognized for all the work they have been doing,” [Co-CEO] Mayer said.  “Two of QPS’ core beliefs are legacy and family spirit. In the move to the ESOP, we believe that the employees will be taken care of as family and are now helping to solidify the legacy of QPS for many years to come,” [Co-CEO] McNulty said.

June 7, 2021, Paramount Interiors, Paramount Interiors transitions to an EOT.  Richard Jones said: “Paramount Interiors have many long-standing staff members, and the people here are at the heart of all that we do. I am absolutely delighted with the opportunity to reward our talented team with a stake in the business for the outstanding contribution and commitment they have shown over the many years, particularly through the most challenging of times.

June 4, 2021, J&L Elevator, J&L Elevator transitions to employee ownership via establishment of an EOT.   John and Lynda Harding, co-founders of J&L, said: “It’s a great time for everyone associated with J&L, including our suppliers and customers, as we know that the company we created will continue in safe hands and we fully expect that the team will flourish over the coming years”.  The co-founders believe that the ethos of employee ownership will assure customers and suppliers of the long-term future of the company. Lynda added: “It also gives John and I a route to retirement with the advantage of mentoring the successor team. It’s a win-win all around.”

May 20, 2021, Park Cameras, Park Cameras transitions to employee ownership via an EOT.   Roscoe Atkins, owner and current managing director, said: “Our family of employees are the heart and soul of the business and I’m extremely proud of every single one of them. Our continuous success and growth over the coming years rests on our experts, so we decided to turn Park Cameras into a fully employee-owned business. The EOT will give us the chance to unlock value within the company and enable the team to become more invested both financially and emotionally in the business, whilst ensuring we never lose sight of what Park Cameras is renowned for. Despite a challenging period during the pandemic, we have increased revenue by 65% over the last five years. Thanks to the continued development of online sales, advancements of camera and lens technology and the EOT, we envisage a further growth of over 50% in the next two years.”

May 5, 2021, Purcell Architects, “Becoming an employee-owned business will supercharge the collaborative and positive culture we already have at Purcell,” according to Holton. “This next step in our evolution is a celebratory reminder of the excellence of our technical, support and operation teams, and how we are a resilient organisation that puts our clients and people first.”

May 5, 2021, TEFL Organization, Co-founder Joe Hallwood said the change would also help to provide job security for staff.  “Some of our employees have been with us since the first few months and know the company inside out – we trust them to do right by the firm and have no doubt it will continue to thrive under their care,” he commented.

April 30, 2021, Hatmill, Founder Simon Dixon said: “It’s such a proud moment to be able to hand over Hatmill. I firmly believe this next chapter as an employee-owned business is just reward for the hard work and talent of our brilliant team.

“Becoming employee-owned is about maintaining and building on our unique culture. Creating a great place to work is fundamental to my business principles, and I’m excited about the next stage of Hatmill’s journey.”

April 19, 2021, Rubicon Recruitment Group, Lloyd Banks, founder of Rubicon, “As well as rewarding our existing team and giving them the opportunity to shape the future of the business, we expect our new employee ownership status to attract more talented new colleagues to help us grow. Our clients have always known we are a different kind of recruitment business, and now employee ownership is a very visible demonstration of that.”

April 15, 2021, Hi Nabor, Hi Nabor CEO Jim Crifasi said the more they learned about an ESOP, the more sense it made for the company’s future.  “It keeps our management team together and gives all my brothers and sisters an exit strategy without putting a strain on Hi Nabor,” Crifasi says. “The ones who want to continue working here in their same position will be able to. It’s also a great deal for our employees and will continue the legacy my father set up in 1963.”

April 14, 2021, CSY Architects, Douglas Strachan, joint managing director at CSY Architects, “This enables the whole team to pursue a positive ethos of shared endeavour, valuing everyone’s contribution and sharing in the success of the practice.”

April 13, 2021, Better Placed, Founder Dean Bartle said: “Employee ownership is a fantastic boost for the business and has galvanised the employees through their ownership and the move has confirmed their development is primary to us.  “As we move into a post Covid world and build for the future, this gives greater clarity on our vision and the direction we want to take the business … as one, together and where challenges and rewards are enjoyed by all colleagues.”

April 8, 2021, Dazzle & Inkspot, Martin Super said: “We have been thinking about succession for some time now, and we felt that becoming an employee-owned business was the best outcome for all who are involved with Dazzle & Inkspot.  “It would have perhaps been easier to sell the company to another business. However, we felt the best thing to do was to reward the loyal staff whom have contributed greatly to the success of the business over the years.  “By adopting employee ownership we are giving each one of our employee’s the chance to thrive within Dazzle & Inkspot, while continuing the incredibly hard work ethic that is instilled each day.  “We have always been a family business, and the staff at Dazzle & Inkspot are an extension of this family, and so we are simply putting in place a succession plan that will benefit those whom we care about the most.”

April 8, 2021, Synergy Vision, Ffyona Dawber, SV founder and CEO explains: “Employee ownership (EO) is a natural step forward for Synergy Vision. We have transferred 87.5% of the company to our employees which protects our people-focused ethos and will drive continued innovation for clients as well as growth and long-term sustainability. EO secures the future for SV and is a legacy of which we are immensely proud.”

April 6, 2021, Rubicon Recruitment Group, “Employee ownership is a natural progression for us,” explains Banks. “Many of my colleagues have worked with me for a long time, and the continuing success of the business, especially during such turbulent times, is a result of an extraordinary team effort. Employee ownership rewards that effort whilst ensuring that future successes are reimbursed, and it safeguards the extraordinary culture that drives our business.”

April 6, 2021, All Health Matters Limited, Gill Monk, Managing Director of All Health Matters Limited, commented: “This realises my dream of rewarding the employees for making AHM as great as it is. I am surrounded by an amazing team. Every one of them is totally committed to making sure that AHM leads the way in service delivery, innovation and sustainability, and every one of them deserves to benefit from their hard work. This is a milestone in the life of the business and I am thrilled that I am able to express my appreciation in this way.”

April 3, 2021, Napper Architects, Napper Architects transitioned to EOT James Gilbert, director and trustee, said: “Our company has been in existence for 75 years and we have long had the benefit of a dedicated and loyal workforce. The new trust will reward all those who work for Napper Architects and ensure the business continues to operate for many years to come. “We have always put people at the heart of everything that we do and have always believed in nurturing and developing our staff. This is why we have such a talented, skilled and professional workforce. “We anticipate that greater employee engagement will naturally promote commitment and loyalty, ultimately benefitting the work that we carry out for our valuable and varied client base.”

April 1, 2021, RocketMill,  ”We never wanted to sell RocketMill,” said Sam Garrity, chief executive officer at RocketMill. ”We never started a sale process, however one unsolicited offer met the mark on every level – but there was one problem. Only two of us, Ben [Garrity, co-founder] and I, would be the winners. It left us feeling there must be a better option.”  That‘s when the duo found employee ownership and they felt it was a model that fit perfectly with the agency‘s ‘People First‘ philosophy.

April 1, 2021, Curium, Co-Founder Adam Farrow commented, “We are delighted to announce that we are setting up an Employee-Owned Trust, which will own a majority stake in the business. Our team has always been central to the success of Curium. After such a successful year against such a challenging market backdrop, we decided that now was the right time to move to this new model, recognising the immense contribution that every employee makes to our success. Apart from setting up the trust, nothing else will change. The team and board remain the same, backed by our ambition to grow, develop new services and support many more customers for years to come.”

March 30, 2021, London Camera Exchange, “While the business is breaking direct links with the family of its founders, we are essentially moving to the ownership of the broader London Camera Exchange family,” said outgoing owner, Steve Hall.  “My father was a great believer in people, and this is something that he would have wanted. I am pleased to be able to pass over the business to its loyal employee family in such great shape.”

March 25, 2001, GT Maritime, Robert Kenworthy, CEO at GTMaritime, said: “I am delighted to announce that we have successfully completed the transition to an Employee Owned Trust. Chris and I remain fully committed to GTMaritime and we look forward to working with the team and helping to steer the company for many years to come. From the start we have tried to instil a company culture that ensures people are happy in their work environment and I strongly believe that if we look after our team, then they will look after our customers.  “The EOT aligns exactly with the inclusive and innovative culture that is the foundation on which we have built the business. It is the team providing reliable, round-the-clock support for customers who have worked so hard to achieve the GTMaritime success story; going forward, it will be the team who benefit as they take the business from strength to strength.”

March 25, 2021, Denny Bros,  Barry Denny, Chairman of the Group, said: “Denny Bros has made its name as a world-leader on the quality of the company’s in-house expertise – an achievement that would have been impossible without the contribution of our employees. “We believe employee ownership allows for the greatest degree of continuity, stability and resilience among all the possible options we considered. “We have ambitious plans to deliver further growth and I look forward to this new model helping us achieve this.”

March 25, 2021, Activate Solutions, Mike Cottman – Chairman and founder, along with business partner Steve McQuillan, added: “Employee ownership affords a new and exciting opportunity for the Group, offering a natural succession to a privately-owned business and providing an incentive for everyone to be aligned to the future success of the Group. We are delighted, therefore, to announce that in February 2021, 100% of the shares in Activate Solutions Group Limited (the holding company of the Group) were transferred into the Activate Solutions Group Limited Employee Ownership Trust. This is a fantastic opportunity that allows us to share with employees the benefits and results of all the great work that the Group employees deliver.”

March 24, 2021, Creative Space Management, Creative Space Management transitions to EOT. “After looking at all the options, we firmly believe that this is the very best model to secure the long-term stability, success, and growth of Creative Space Management for our employees and our customers. It gives the people who work within all areas of the business a real stake in its future success. This makes for a more robust and competitive business; with motivated, committed, well-informed staff that can deliver exceptional levels of customer service to our public and private sector clients.”

March 23, 2021, Readie Construction, Readie Construction transitions to employee ownership via an EOT. Executive chairman Read, who was also the company’s founder, said: “Many of the staff have been with Readie throughout our rapid growth and the transition to employee ownership was the logical next step in the development of the company. The creation of an EOT enables us to preserve the legacy of the Readie brand and will help cement our status as a leading contractor in the industrial and logistics sector.”

March 15, 2021, Activate Solutions Group, Julian Cordy – Group Chief Executive Officer, who was delighted with the reaction, commented “Over the last year we’ve taken the opportunity to reflect on our longer-term business strategy and the board concluded that this is an opportunity to embrace the benefits of broadening the ownership of the company to all our permanent field colleagues and head office teams.  Over recent months we have been working hard to deliver the sale of the Group to an employee ownership trust as we consider that this is a direction which would fit well with our be Proud culture and for further enhancing our employee engagement.”

March 11, 2021, J&J Ormerod PLC, J&J Ormerod becomes employee owned.  Stephen Greenhalgh said: “We looked into private equity or a trade sale, but employee ownership seemed the best of both worlds as it secured the long-term future of the business and it also secured our father’s legacy.  “The employees are fundamentally the most important part of the business and now indirectly they are all co-owners and will be able to share in future profits.”

March 10, 2021, Synergy Vision, Ffyona Dawber founder and CEO of Synergy Vision shared “Employee ownership is a natural step forward for Synergy Vision”, “We have transferred 87.5% of the company to our employees which protects our people-focused ethos and will drive continued innovation for clients as well as growth and long-term sustainability.  EO secures the future for SV and is a legacy of which we are immensely proud.”

March 9, 2021, Restek,  Knight said: “Since incorporating the business, I always had the intention of stepping away, and following consultation with Benchmark and Napthens, I decided that employee ownership was the best fit.  “Growing revenue every single year, Restek has now been involved with a catalogue of exciting, high-profile schemes, quickly cementing ourselves as a leaders in our field.  “Our continued expansion hasn’t gone unnoticed and selling to a competitor or investor was an option, but I was concerned that a third party would not act in best interests of the business and the team, some of which have been with me for more than seven years.  “This way, I can hand over the business gradually and ensure that it remains on track to fulfil its significant potential and stays true to its core values. Napthens and Benchmark have been great to work with; they have provided clear and insightful advice throughout this process.

March 9, 2021, J&J Ormerod, Stephen said: “We looked into private equity or a trade sale, but employee ownership seemed the best of both worlds as it secured the long-term future of the business and it also secured our father’s legacy.  “The employees are fundamentally the most important part of the business and now indirectly they are all co-owners and will be able to share in future profits.

March 9, 2021, Elevation Recruitment Group,  Parkinson said: “From day one, Elevation’s core values and foundations have been based on employee engagement, along with a service that demonstrates care, ownership of our responsibilities to our clients and candidates and a desire to impress.  “This move to an Employee-Owned business will not only seriously strengthen our offering to our employees but also bolster our already strong existing service levels to our customer base, because each employee you engage with is now a co-owner.  “Employee-led businesses are proven to be more effective, as their employees share a common goal and are more productive, with an increase in motivation and job satisfaction.  “This transition to Employee Ownership is a brilliant next chapter for Elevation and will be a really appealing proposition for future talent looking to join an employee focused business.”

March 9, 2021, AES Solar, HIE said the move would give employees a “meaningful stake” in the business, helping to safeguard the business and ensure it “remains in Moray and contributes to the local economy.” The agency added that employee ownership was also considered a good “exit solution” for Mr Goudsmit.

March 9, 2021, Pennine Healthcare,  Mrs Fothergill (owner) said: “The success of Pennine Healthcare today is due to the skills and commitment of our employees and I am delighted that we have taken the EOT route to take the company to the next chapter.  “Selling the company to our employees through the EOT will ensure that Pennine Healthcare remains rooted in Derby and continues to create and retain skilled and valued jobs and careers for local people. “Everyone will take an equal share of a significant proportion of net profits generated which  recognises the important part that each individual plays in the the success of the company.

March 8, 2021, Brand Opus, He added: “We started reviewing the future of the business back in 2019, where we explored everything from equity release to a complete sale of the agency. But the EOT model quickly became our favoured option because it enabled staff to become more invested in the business, and be involved in its future trajectory.”

March 5, 2021, HLM Architects, Camden-based HLM Architects and its subsidiary Llewelyn Davies have transferred to employee-owned status with immediate effect, following the firm’s successful transition to an employee ownership trust (EOT). Commenting on the move, HLM Architects chair Richard O’Neil, said: “Our people-centric practice has a special culture fostering our heritage and focusing on our future. So, it is a natural progression to transfer ownership for the benefit of the people who are committed to our success – our staff.”

March 5, 2021, BDB Consultancy,  The Altrincham-based B2B consultancy will now be run through its Employee Ownership Trust.  CEO, Matt Smith “As a service-based business, our people truly are what makes BDB so special, what gives us the edge, and forms part of our uniqueness. What better way to acknowledge this, than a true, egalitarian, ownership structure? We are acting on our principles, not just talking about being “in it” together.”

March 5, 2021, Pennard Vets, Transitioned to an EOT, meaning Pennard’s 90 employees across six sites are now shareholders in the business and take a share of profits.  It also means the 125-year-old practice stays independent – a key priority for the existing partners who turned down lucrative offers from corporate consolidators before pressing ahead with their plans to transfer ownership.

Feb 8, 2021, Swansons Food Wholesalers,  An offer for the business from a larger wholesaler prompted owner Magnus Swanson to begin considering his eventual exit from the firm.  “One of the most obvious options was a trade sale,” he said. “However, I was concerned that selling to a remote buyer might see one of the branches closed, staff laid off or clients resigned.  “We have a loyal and long-serving team at Swansons, and I wanted to ensure their jobs were secure. I thought that employee ownership could be a good fit with our goals and values and would allow me to gradually step back from the business over a number of years.”

4 Feb, 2021, Crossland Employment Solicitors,  The benefits of an EOT were that it made staff “feel part of the future of the firm”, while giving them “much more of a focus on costs and profitability”. In the two weeks since the firm made the change, there had been a “fantastic sea change” in attitudes.  Ms Sunderland said the move had also gone down well with clients, one of which was in the process of converting to an EOT.

Feb 2, 2021, Horizon Platforms, Ben Hirst, CEO, comments; “This is the proudest moment of my career. Transferring ownership into the hands of our employees offers this organisation the opportunity to live on, and truly become what I have always strived to achieve, a business built for our grandchildren. “Becoming employee owned is about maintaining and building on the unique Horizon culture. The business and its employees have a real family ethos and so personally, I want to be a part of what I expect to be the most exciting phase of Horizon’s journey yet.”

Jan 30, 2021, C&K Market, “At our core, we’re a community grocery store that proudly serves its neighbors,” said Karl Wissmann, president and CEO of C&K Market. “We tailor what we offer to meet the needs of each community we serve. That commitment continues through our Employee Stock Ownership Plan, which allows us to maintain our independence and lets employees benefit from our success.”

Jan 14, 2021, Cost Advice, Cost Advice transitions to employee ownership via an EOT.  “Employee ownership provided a way for us to do this; it’s progressive and forward-thinking and provides a way to give back to our loyal and talented workforce who have helped to make Cost Advice what it is today. The company is going from strength-to-strength and now is the perfect time to start our exciting new chapter.”

Jan 1, 2021, GBN, As of January 1, 2021, Global Beer Network sold 100% of its shares to its employees, becoming the first employee owned beer importer in the United States. “The people who represent the values of the organization, invest their time, energy and creativity in building the company are the people who should eventually prosper from their hard work and dedication,” said CEO Steve Villani. “GBN has learned throughout the years that in order to be successful and grow, that we have to work and think differently and take advantage of the talents of all of our people and in return reward them for their work.”

Dec 31, 2020, A M  King, A M King transitions to Employee ownership via an ESOP.  Brian T King – Founder/President   First, it allowed me to sell the company to an entity that I believed would best protect our future success and sustainability: our employees. Secondly, it would ultimately provide every employee with a personal stake in the company, gifting each of them shares over future years, which they could grow in value through their own hard work and success. Third, it gave us the best opportunity to maintain our company culture, how we operate, and who we are as an organization. This would mean little to no discernable impact to our customers, our suppliers, and our communities.

Dec 28, 2020, 2e-volve, Craig Lemmon founder of IT provider 2e-volve, first explored employee ownership three years ago amid a spate of approaches from similar sized firms. He said he did not want to sell the business “because it would have thrown our people and clients into uncertainty. “This option means they have the reins and with my input for the years ahead, they can take the business where they want to.”

Dec 26, 2020, Woodruff Construction, “All of our employees now own Woodruff Construction,” said Don Woodruff. “Through their hard work, dedication, and focus on improving our company, this has earned us the ability to own it together. Moving forward, we’re going to make it an even better company by creating a stable foundation to build up our existing employees and hire others of like mind who will want to work for a company that they own a part of and can impact the outcomes.”

Dec 22, 2020, Allan Murry Architects, Managing director Connor Pitman said: “Unlike many firms entering employee-ownership, for us it is all about continuity and showing the market that – while we are evolving – we are as well placed as ever before to deliver the cutting-edge and landmark projects we’re known. “Employee ownership will help us grow and develop – and take on new tests with increased ingenuity and accountability. It will ensure our team is fully rewarded for its brilliant work too.”

Dec 11, 2020, Life IT, Ms Sherratt said: “We have an extremely hard-working, committed team at Life IT and it’s fantastic to be able to give our people a share in the business’ future success. “2020 is our 20th year in business and it felt like the right time to transform the ownership structure of the company. “Employee ownership is a perfect fit with our culture, ethos and our plans for the future and the swift process meant we were best placed to focus on growth.”

Dec 4, 2020, Safer Sphere, Safer Sphere transition to an employee owned company (EOT).  Safer Sphere managing director Mike Forsyth said “Today marks the eighth anniversary of the inception of Safer Sphere as a construction health and safety consultancy, a milestone I never conceived when I set out on this journey and testament to the brilliant staff, project teams and clients we work with. It is therefore very fitting on the same day I also celebrate and welcome every employee of Safer Sphere as a partner within the business. Safer Sphere has converted 49% of its ownership to an employee benefit trust, meaning all of our superb team now have a stake in the company. This provision has been put in place to align with our business growth plan, reward our team for their substantial efforts and to enable them to share in the future successes that we hope to see in the coming years and beyond.”

Dev 4, 2020, Claremont, Claremont transitioned to an employee owned company (EOT).  Tim Frankland, managing director at Claremont, said: “Throughout our history, we have always been a people-orientated organisation, so becoming an EOT now is the perfect way to embody our values and recognise the contribution of our talented team.  “The decision was also borne out of considering how to protect the stability and longevity of the organisation as some directors plan their exits, without the need for a management buyout (MBO) or the possibility of being acquired by a bigger player. This way, Claremont remains in the hands of the staff that have helped make it what it is today.”

Dec 1. 2020, Leeds Architects, The practice has been transferred to the existing team via an employee benefit trust agreement, with two thirds ownership now in the hands of the employees.  “The employee ownership model was an important part of the transition for Bauman Lyons and it means the team now has full ownership of its future direction and ambitions. There is a lot of energy and passion in the business and that is being channelled into the new generation of architects that are coming through the practice. We have two architects that qualified during lockdown so even the present situation hasn’t dampened our enthusiasm or stopped progression in any way.”

Nov 25, 2020 Tapestry Compliance, The Tapestry founders have transferred 100% of their shares to an employee-ownership trust, but industry leading experts Janet Cooper OBE and Bob Grayson will remain involved with the business as advisers to the Board and as trustees of the employee-ownership trust. Business will be very much as usual, but the next generation are incentivised and empowered to move Tapestry Compliance forward to even greater success. Chris Fallon and Carla Walsham, senior lawyers in the Tapestry Compliance team, have been appointed directors, with senior lawyers Hannah Needle and Matthew Hunter joining the trustee board.

Nov 24, 2020, Shore, Foley said: “In due course I will want to exit the business, however having founded and developed it into a market leading company over the past 17 years, I didn’t want to sell to a third party and see the team’s hard work absorbed into another organisation with different values or a long-term strategy that might not match ours.  “We have developed a strong team ethic and a culture based on collaboration, support and respect. We’re not a group of individuals sharing an office – we are a team. Our people are hand-picked for the skills, creativity, experience and spirit they bring to our company, so it was important to me to give the company, the jobs and the brand the best chance of continued independent existence following my exit. The business should work for the employees, rather than the other way around, so employee ownership was the perfect fit for us.”

Nov 24, 2020, Parallel Technologies, VP of Major Accounts Jamie Baird says pursuing an employee-owned model was about promoting Parallel Technologies’ legacy. “We could have explored selling it to an outside organization. Well, we all know what happens when that happens. Jobs get cut. We’re looking to actually grow the business,” he said. “We have key employees that we want to be here, and we want to reward them for all the hard work that they’ve done. The younger generation is going to take over this and make a go at it.”

Nov 20, 2020, The Nursery, Brand and communications research agency The Nursery Research & Planning has announced it has moved to employee ownership with immediate effect.  Peter Dann, chief executive, The Nursery, said: “The people that work here have always been what makes this business so special, delivering expert insight to a wide range of great clients. Handing ownership over to them feels like the right thing to do; it also makes good business sense as we have a brilliant leadership team and a great group of researchers who’ll be even more engaged in the success of their business as well as their clients’.”

Nov 13, 2020, Wavehill, Founder Director of Wavehill, Mark Willis, said: “We have clear company values, an extremely strong ethic and a culture based on collaboration and respect, so when it came to continuity and succession planning, becoming employee owned was a natural progression for Wavehill. “For us, it’s a commitment to our team, a number of whom have been with us for many years and have been instrumental to our success. We want to empower them; share in the success that we’ve built and make our employees feel invested in our continued growth.”

Nov 12, 2020, ITWORX, “It’s easy to talk up your company’s values in these areas, but being employee-owned demonstrates that commitment.” Noting that she and Mr Mowatt have no plans to step back from the business, Ms Ross added: “Our staff are key to our success and some of the senior employees have been with us for a very long time, so handing the company over to them shows them they are valued. It also offers peace of mind about the company’s future as there is no risk of the company being absorbed by a competitor further down the line. “We also hope the structure will help attract and retain new talent,” she said. “Young talent is so important, especially in an ever-evolving industry like IT. There is a wide range of expertise at all ages and levels within the company that we listen to and learn from, and by giving the team a say in how the business is run, they know their skills and contributions are appreciated.

Nov 4, 2020, Tangram Furnishers,  Mr Darwell-Stone said: “When I started to think about the future of the business and my eventual retirement, I knew I didn’t want to simply shut up shop and end something I’ve worked extremely hard to build. I also knew I had a long-serving and incredibly loyal team and I wanted the business to continue in its current form for them.  I didn’t want to sell to a third party and see the business absorbed into another organisation with different values or a strategy that might not match ours.  “We have developed a very successful business together and have created a strong team ethic, so it was important to me to give the company, the jobs and the brand the best chance of continued independent existence following my exit. Employee ownership is the perfect fit for us.”

Oct 30 2020, E.B. Horsman & Son, Tim Horsman President & CEO stated: “Our [ESOP] is the natural evolution of our organizational culture,” added Horsman, “We have always benefitted from encouraging an ownership mindset with our employees, so it only made sense that we have an ESOP that engages our team in an ownership program that rewards long-term enterprise value creation.”

Oct 22, 2020, Hunter-Davisson, Jeff Davisson, President of Hunter-Davisson, said, “Our company culture aligns perfectly with our decision to become an ESOP. In addition to enhancing our growth potential, this transaction provides our employee-owners with an ongoing financial interest in the business and rewards them for the invaluable contributions they have made toward our success.

Oct 13, 2020 ADLIB, Nick Dean “Over recent years we’ve been considering the future of ADLIB. We’ve always felt it would be a challenge to find a suitable buyer who would retain ADLIB’s ethos, substantiated by our B Corp certification in 2019, and the drive to balance profit and purpose. The most important factor was retaining our independence and the flexibility to invest in our growth, whilst ensuring we retain our B Corp certification. By far the best solution to ensure ADLIB has a long-standing future, was to hand over the business to the people we know and have helped create it into what it is today, whilst adding an additional layer of employee attraction for those who will help spearhead our next phase of growth.”

Oct 13, 2020 Cambridge Pixel, Litlington-based radar technology company Cambridge Pixel has moved into employee ownership, which co-founder and CEO Dr David Johnson says “will secure the long-term future of the firm… and will benefit the founders, the employees, and the company’s customers”.

October 12, 2020 First Affirmative Financial Network, First Affirmative Financial Network, a Colorado Springs-based investment advisory firm that specializes in social, responsible and impact (SRI) investing, has been sold to its employees by financial giant Goldman Sachs. Under employee ownership, the company is now is certified B corporation, a type of business that balances profit with a social purpose — in this case using “the power of capital to bring about lasting beneficial change, including stewardship of the environment and promoting social change” the release said.

Oct 5, 2020, Northern Tree, “With the history of our employees’ dedication to the company comes personal responsibility for me to develop a succession plan that will help ensure its continued success, further strengthen its legacy, and reward all employees dedicated to the future of Northern Tree,” CEO Philip Cambo said. “While there were many succession plans available to Northern Tree, only one was the perfect fit to address my responsibility to the company. I’m proud to say that Northern is now 100% employee-owned through this newly formed ESOP.”

August 26, 2020, Midwest Mole, Midwest Mole says going to an ESOP model provides “advantages for growth and employee retention without alteration of the management structure.” “The change of ownership is expected to be a seamless transition for clients and vendors, as the company continues to focus on providing cost-effective and environmentally friendly trenchless solutions, working safely and creating a welcoming work environment,” the company said in a news release.

August 24, 2020, Onex, “Being 100 percent employee-owned rewards our hard-working employees, excites our clients, keeps the business headquartered in Erie, ensures we have the same strong management team and leverages the benefits of tax-free status,” said Ashleigh Walters, President of Onex. “When we considered all these positives, it made sense to make this transition now.” “With this ESOP, our families, our community and Onex are stronger and ready for a bright future,” said Asleigh.

August 21, 2020, Damia, “Employee ownership allows us to give our people a bigger stake in the business,” explains Chris Bardoe, founder of Damia Group. “Many of our team have worked for us for a long time, and some of them have been with us since the business was established. Employee ownership roots these jobs in the region for the longer term.”

August 20, Applewood Seed Company, “We believe our company is the strongest when our employees feel valued, empowered and are given the tools to be successful in their professional and personal lives,” says Gene Milstein regarding the transition to the ESOP. “The employees’ financial interest in the company provided by the ESOP is a confirmation of our appreciation for their many years of hard work and the trust we have in Applewood Seed’s future success.”

August 19, 2020, Brands2Life, Fraser told PRovoke: “We’re delighted and we think it’s really good news for Brands2Life. It’s a lovely way of recognising all the brilliant work has done, and moving the business on to collective ownership in a way that means we can stay founder-led – because Sarah and I love running the business – and independent.”  He added: “We were already set up much like an EOT, with extensive staff feedback mechanisms and a very employee-centric culture, so nothing will change in terms of how the business is run.”  Scales said: “At a time when agencies are being challenged more than ever, we think that collective ownership gives us the best possible platform to grow and thrive in the years ahead. In our 20^th year we’re really pleased that we’re able to take this next step.”

August 17, 2020, SimVentions, “The plan has several objectives,” said Larry Root, CEO of SimVentions. “First, to provide ownership of the company to those that build and execute the work of the company; second, to provide a significant retirement benefit and a reason to want to make the company more successful; third, to provide a tool to motivate, retain, and attract employees; and finally, to create a market for the transition of equity from the current shareholders without a sale to outside interests.”

August 14, 2020, Healics, “Over the years, we’ve investigated different ownership models and the employee stock ownership plan is the one that appealed to us because it rewarded all of our employees who have helped Healics grow,” says Patti Plough, LPN, CWC, who recently retired as president and CEO of operations for Healics. “Since establishing this company, we’ve been blessed so we wanted to share the blessings with our employees and give them the opportunity to become employee owners of Healics.”

August 4, 2020, Avion Solutions, Since we became an ESOP company in 2007 our goal has always been to be a 100% employee-owned ESOP,” said Chad Donald, President of Avion Solutions. “I’m proud of our employee owners who invest themselves in the success of our company by consistently providing extraordinary service in the communities we serve. This is an historic step for Avion Solutions, and I’m excited to see what the future brings.”

July 30, 2020 MHB Consultants, Founder Hendrie Barbour stated “All of us have been involved in building MHB, and we are proud of the successful business that it has become and the team of employees that we have. We don’t want any exit plans to impact what we’ve all built or change the way the business operates and our way of doing things.” He continued “Goodwill from employees is important right now as we must all pull together in the right direction. What better way to do this than with all of us as owners?”

June 26, 2020, Alexir Partnership, “The establishment of the Alexir Partnership EOT has enabled us to achieve the three key values we all feel strongly about. Firstly, a fair return over time for the shareholders of Alexir, without putting undue financial stress on the business. Secondly, the Alexir Partnership EOT will enable our Partners, many of whom have helped build the business over many years, to participate in the ownership of the company. Thirdly, it will help to ensure Alexir remains proudly independent.”

June 26., 2020. Knowles Associates., “Establishing an EOT means Knowles Associates can maintain its all-important independence and therefore, its impartiality and strong values, whilst creating the opportunity to pass the company on to the next generation of business talent. “We will continue to provide exceptional client servicing, which has always been at the heart of what we do, so it’s business as usual in that respect – only with the promise of even better.”

June 23, 2020, Caesar Creek Software, “Rewarding employees for their contributions to Caesar Creek has always been a priority for me,” says Kevin Hoffer, Founder and President of Caesar Creek Software. “Transitioning ownership to our employees was the right solution for our company. Prairie’s team demonstrated the expertise and guidance needed in structuring the right ESOP transaction for all of us.”

“After considering various ownership transition structures for Caesar Creek, it became clear that the ESOP met nearly all of Kevin’s near and long-term objectives,” commented Tom DeSimone, Director at Prairie. “Having employees share in the value created at Caesar Creek is extremely important to the company culture created over 20 years ago. It was a pleasure working with the Caesar Creek team throughout the entire transaction process.”

June 2, 2020, Schuber Mitchell Homes PBC, Inc, “We are excited to establish an ESOP which will allow our team to benefit from the future growth of the company,” says Daman Schuber, one of the selling shareholders of Schuber Mitchell Homes.

May 13, 2020, McGee Group,  Chairman Brian McGee said that handing the company to employee ownership was a natural step. “It would have been relatively easy for us to sell McGee Group to a third party, but we did not want to do that, he said. “Michael, John and I, similar to our father, have always recognised the contribution of our employees, which is why the move to employee ownership in many ways, was the obvious next phase of the McGee journey.” “For us, it’s a move designed to secure the future of the business, continue the legacy that our father started in 1959 and reward the people who have made the business the success it is today – its employees,” he said.

May 11, 2020, Design Workshop, “With the move to a 100% employee-owned company, Design Workshop now has a framework for ownership transition that provides a substantial long-term benefit for employees and positions the firm for continued success in our next 50 years,” said Kurt Culbertson, CEO of Design Workshop. “The ESOP is a direct application of the firm’s Legacy Design principle of “community” – extending ownership of our practice to include every employee.”

Apr 29, 2020, Simon Morray-Jones Architects, Simon Morray-Jones, who thanked the Castle team for their pragmatic, helpful and supportive advice, said: “We are so pleased to leave our business in the hands of our very capable team. I will of course remain as a consultant for as long as they want me, but the future is now in their hands, which is really inspiring.” Berni added: “We have a great team, and even in the midst of this current environment, they have been very enthusiastic about this opportunity, as we had imagined they would be.

Apr 28, 2920, EHC Energy Limited, Mr Walters, managing director, said: “The directors of EHC have actively been looking for a suitable exit strategy for a number of years that would provide a solution which safeguards all parties concerned.  “Various schemes were promoted to us however we operate a transparent management style and when we discussed the options with the key staff it was agreed the employee share scheme would deliver the best long term solution to meet our future aspirations. We are delighted that the transaction is now complete and provides stability across the company in these challenging times.”

March 16, EllisDon, “EllisDon’s share structure and independent governance will ensure that we continue to strive together for complete fairness in equity of ownership across all employees, both present and future,” said Smith. “Shares will continue to be offered to employees every year and loans will still be offered on an interest-free basis. Shares will always be purchased and sold at book value, ensuring the ability of every employee shareholder to participate fully in the share value created while they are at EllisDon, and then to pass that opportunity on to future employees.”

March 11, 2020, Georgia Theatre Company, “The benefit of an ESOP,” Chambliss says, “is that you get to keep your current management team in place and you get to keep all of your employees in place. From an employee standpoint, it’s seamless—they don’t even know that it’s happening immediately. And the benefit to Bill and his family is they get paid the value of the company. Bill is a very, very loyal person—he has always taken care of his employees. Selling out to one of the big three or four or bringing in a private equity [firm] he knew was not the best thing for his employees. So when the idea of an ESOP was brought up, he thought it was a fantastic idea, and assuming the money was around the same, he was all in.”

Feb 28, 2020 Trinity Products, President Robert Griggs, who had been the company’s sole owner, said in a statement that he made the transition “to truly reward everyone who has helped build this organization over the years.” He said the ESOP would be “a great way to continue to improve on our culture” and should help Trinity recruit employees.

Feb 17, 2020, SCS Engineers. Jim Walsh, President and CEO of SCS Engineers stated “Our success and growth is a direct result of our employees thinking and acting like owners to deliver the best service for our customers. We believe employee ownership is a formidable advantage in recruiting and retaining top talent. Employee ownership provides an opportunity for them to share directly in the success they are helping to create.  This transaction delivers the flexibility to pursue sustainable growth for SCS Engineers and the opportunity to spread the wealth among our employee-owners”

Feb 6, 2020, Altec & Victoria. “Firstly, I didn’t like the idea of selling the business to a competitor. I’ve seen many times the negative effect this can have on a business and its staff. It was also important for me to create a personal legacy. I’ve spent 35 years building up this business which my Dad started and I wanted to find a way to preserve that for the benefit of everyone who works here.”

Feb 5, 2020, GreenScapes Landscape Co. “I’ve been looking for a way to pass the company along to the people here,” Gerhardt said. “I’ve been approached by buyers over the years, but it didn’t seem like a good fit for the employees, or I was worried they’d want to change the culture here. This way the employees will be able to take the ball, and they can run with it.”

Jan 29, 2020 Bluefruit Software. Paul Massey, Director and Founder of Bluefruit Software said: “This move to employee ownership will ensure that no matter how much Bluefruit grows, we will never lose sight of the positive, supportive culture that made us so successful in the first place. Bluefruit’s future is brighter than ever before because each and every member of our team is now invested in our collective success.

Jan 29, 2020 Midland Trust. Dave Owens, President and CEO of Midland, said, “Becoming an employee-owned company was a major decision for me. Midland has been in business for over 26 years and I’ve owned Midland for over 18 years. I am very proud of the business our employees helped to create, and I believe this is a great opportunity to plan for the future and give the next generation the opportunity to expand the business.”

Jan 26, 2020 Kovatch Castings.  Transitioning to an ESOP “… allowed me to keep in place my managers, who share my vision for our future, keep the Kovatch name and hopefully have it continue for many more generations to come,” he said.

Jan 21, 2020 Emperor.Emperor CEO Steve Kemp said: “Our decision to move towards employee ownership is rooted in our deep appreciation for the contribution our employees have made over our 24-year history. “Emperor has built a collaborative culture that promotes the best talent and innovation. “This move will only strengthen it by emphasising our shared purpose and reinforcing the inclusive nature of our business. “I believe this will put us in the best possible position to achieve our future aspirations as an independent agency.”

Jan 11, 2020 True North Networks.  Rather than choosing to “walk away with a big paycheck, thank everybody and walk out the door” at his retirement, he wanted to share the wealth with the team that built the company since its founding in 2002. So Ryder began researching employee ownership.

Jan 10, 2020 Palmer Holland. “The conversion to an ESOP allows Palmer Holland to benefit employees and principals, live up to our core values in excellence, and evolve and grow,” CEO Bryn Irvine said. “It has always been our goal to remain independent even in this climate where others are selling. Our ESOP allows us to retain our culture and unparalleled way of doing business.”

Jan 9, 2020, Tricore, We had to come up with an ownership solution that allowed equity to be released to Greg’s estate and Bill to retire but also ensured the future security of the company and safeguarded jobs. Many options were considered but when our accountants suggested employee ownership we soon realised it ticked all of our boxes. It protects the ethos of the company and the existing team as well as providing a satisfactory solution for the previous owners. “Protecting jobs was an extremely important factor in our decision. Many employees have been with us for over 20 years and have played a vital role in the growth and success of Tricore. Moving into employee ownership gives job certainty to everyone who works here and enables them to have control of their future.  “Although they were initially surprised, the staff are very excited about the opportunities it will bring and have very much embraced the concept of employee ownership. Our new structure will also provide clarity over roles and the opportunity for the team to improve current working practices.”

Jan 7, 2020 PAQ Inc. “Since we’ve announced this internally, across the board, employees are excited about this opportunity,” added Cote. “We’re going to feel fresh energy from everybody.”

Jan 4, 2020 Georgia Theatre Company. “Our employees are the foundation of Georgia Theatre Company,” Stembler said. “By transitioning to an employee-owned company, we are empowering them to play an integral role in the company’s future. My family and I are grateful for this opportunity to reward our employees for their hard work, loyalty and contributions by creating the Employee Stock Ownership Plan (ESOP).”

Jan 2, 2020 Vectric Ltd. Edward Powell added: “We believe employee ownership is the right model for a forward-thinking company like ours, where so much is dependent on our people as individuals and the way they work together as a team. This is an opportunity to increase engagement by giving staff more potential to collaborate and lead within the business. The team have fully embraced the concept of employee ownership and are delighted that Vectric’s legacy will be protected.”

Jan 1, 2020 MetroConnections. “This new ownership plan has several benefits,” says David Graves, president and CEO of metroConnections. “First, it puts business ownership into the hands of those who grow the company; second, it will provide a significant retirement benefit and motivation to continue to grow the business; third, it provides a tool to motivate, retain and attract employees.”

Jan 1, 2020 Loftness Specialized Equipment. Loftness owner Dave Nelson stated “Each person gains more stock as they work. Nobody pays into it. The guys who are going to be here 15 or 20 years, it’s going to be pretty good for them.” “In addition to the retirement plan, it guarantees the company stays in Hector and doesn’t get bought up by some bigger firm. We’re a small manufacturing town and we’ve lost enough companies already. Our family is committed to keeping this plant here in Hector.”

Jan 1, 2020, Spark Power, “We are very pleased to be rolling out the next version of our ESOP program,” said Eric Waxman , Co-Founder & Chief Investment Officer, Spark Power Corp. “The Plan was designed to allow employees to benefit from the Company’s long-term growth, to attract and retain the best talent in the industry, and to support a culture of ownership, performance, and engagement. Through the gift share component of the Plan, every employee becomes a shareholder in the Company—We Are All Owners!” added Waxman.

Dec 31, 2019 Bergen Plumbing, Heating & Cooling. “Our employees have been highly effective in building a strong business and outstanding reputation in the community we serve. I’ve always wanted our employees to be more than just employees and have the ability to share in the success of the company,” said Matthew Gardner owner and president of Bergen. “This ESOP provides employees with a stake in the company’s long-term success and further enhances its growth potential.”

Dec 26, 2019 Pride & Service Elevator.  According to Christopher Todd, President, “Each employee of Pride & Service Elevator is a trusted team member. We want our employees to feel that they ‘own and operate’ their own business, which fosters tremendous pride resulting from owning a stake in the Company. We also want our hard-working and loyal employees to benefit beyond their wages alone if they continue to help grow Pride & Service Elevator. Together, we strive to be more efficient, safe and responsive to our customers’ needs.”

Dec 25, 2019 Easling Construction. Marty Easling said  “I love Leelanau County and want the best for my team, my clients and the economic health of the region …”

Dec 16, 2019 Barrio Brewing Company, “Barrio Brewing started as, and will continue to be, a family affair as our employees are family and have put their hearts and souls into making Barrio what it is today,” said Dennis Arnold, Barrio’s soon-to-be brewmaster emeritus, in a release announcing the decision. “Nearly 30 years after our humble beginnings, the decision on our exit strategy was easy for both of us, either sell the business or simply give the business to those who’ve made it what it is, our employees, leaving them with their destinies in their own hands.

Dec 14, 2019 SJC Alliance President/CEO Jean Carr “Being a 100% employee-owned company is a way for our founders and previous owners to reward our employees for their dedication and commitment, as well as preserve our unique culture.”

Dec 8, 2019 Metro Sales Inc Jerry Mathwig, founder and president of Metro Sales, Inc “The employees built the company with the help of our customers, and I wanted to further reward them for their contribution. This ESOP allows employees the opportunity to share in the profits they helped create. I am confident that it will provide many additional benefits to the almost 300 employees of Metro Sales, Inc., well into the future.”

Dec 6, 2019 Bluefruit Paul Massey, Bluefruit founder and director “We’ve found time and time again, that by empowering our people to make the right decisions for themselves and their work that we get a better result for our clients than if we didn’t.  “It was important that we found a way to preserve this and ensure the business would be around ten, 20 or even 30 years from now. Something that your typical Silicon Valley or London-based tech start-up doesn’t care about.”

October 15, 2019 Aveka Group. Dr. Willie Hendrickson, CEO and Founder of AVEKA, said, “It’s amazing to see the company after 25 years and what better than to reward the employees with a larger stake in the company. At the end of the day, the employees are what has made AVEKA the place to go for powder processing.”

Sep 26, 2019 Safedem Managing director William Sinclair, stated “The move to employee ownership will allow the business to develop and plan for the future and is due recognition of Safedem’s excellent employees.”

Aug 29, 2019 Crafton Tull & Associates, Crafton Tull President and CEO Matt Crafton, “We and those who went before us worked long and hard to build this business, and we want to see it continue far into the future.  We want our workforce and the communities that have supported us all these years to continue to do well by us in the future. “Transitioning ownership to the ESOP allows us to continue moving forward based on the core values that have always guided our business — integrity, respect, excellence, responsiveness, teamwork and safety.”

2017, Graham Company on why they decided to become an ESOP: We wanted to stay privately held and we were fiercely committed to our independence, so we knew that becoming employee-owned was a way to make sure this was able to happen. We were [also] really committed to making sure we kept our unique culture, so the employee ownership component helped us stay independent and also stay dedicated to strengthening and perpetuating our unique culture.