We wanted to make you aware about an exciting change in the ownership of the Emico Group.
Over recent years, Emico as a business has been performing well. Due to the Company’s success and the role that our employees all played in growing the company, it has been decided that now is the right time to ensure that going forward all employees can be involved as owners of the business by transiting the business into one that is run for the benefit of all employees. This is similar to a ‘John Lewis’ type model.
This means that the current shareholders will reduce their shareholdings in Emico and instead these shares will be held by an Employee Trust that is run solely for the benefit of all employees. The agreement will see the Trust retain a 60% equity ownership of Emico.
John Barry and David Perrotton will still hold shares in Emico and will continue to run the business day to day, however we are pleased to announce that Emico will become “Employee Owned” following completion of the transition. No external debt has been incurred to finance this transaction.
The aim and desire of the Employee Ownership Trust is that the Company remains independent, and the culture and ethos of the business is retained. In this way all our stakeholders’ interests are aligned, and everyone benefits from the overall long-term success of the business.
This represents a confidence and commitment to entrust the Company, to its employees, whilst supporting the ongoing development of the Company ensuring that innovation, performance, and reliability continue to be key drivers within the business.
Our clients will see no change in how the mechanics of our business operate; however, as an employee-owned organisation, our clients will enjoy the benefits of an engaged and committed workforce and by putting our employees at the centre of what we do, our mutual goals will be achieved.
We thank all our staff for their support and endeavours over the past 22 years.
John Barry David Perrotton
Group Managing Director Group Strategy Director
