Churchill Group Becomes Employee Ownership Trust

• Content
• News
• Churchill Group Becomes Employee Ownership Trust

15 August 2023

Soft services provider Churchill Group has announced that it will move to an Employee Ownership Trust model.

This is when a company sells their shares to an employee-owned trust, free from capital gains tax. EOTs do not involve direct share ownership by employees, rather a controlling interest in the company is transferred to an all-employee trust which is then held for the benefit of employees.

According to The White Rose Centre for Employee Ownership Survey 2022 the UK EOT Sector has doubled in size since 2020. Businesses with an EOT structure include Go Ape, TTP Group, Richer Sounds, Riverford Organic Farmers and Aardman Animation.

Churchill Group says the move will ensure it remains true to its founding entrepreneurial ethos. The company will continue to be managed on a daily basis by the existing leadership team.

James Bradley, Group CEO, said “Churchill is proud of its difference in the FM market, achieving significant growth over 30 years. The EOT is a natural transition as it continues our unique culture and retains our values of doing right, seeking better and putting people first.

“Our colleagues are what makes Churchill’s specialist businesses so successful which is why our founders wanted it to be them who should share in the future success.

“When considering ways in which to take the company forward, we were impressed by the benefits becoming an employee-owned business would bring including furthering our sustainable purpose with better impacts for people and the environment.”

Picture: a photograph of two people speaking across a table in a work meeting setting. One person has a laptop and is smiling at the other person. Image Credit: Unsplash

Article written by Ella Tansley | Published 15 August 2023

Share

Related Articles