Employee Ownership Trust for an award-winning architects practice
An award-winning architects practice with a score or so of employees. The founder still owned the majority of the business with one other director owning a substantial majority of the shares.
The founder wished to encourage and reward this collegiate atmosphere and was concerned about the long term future of the firm. He began to consider employee ownership as a means of (1) giving an exit for existing shareholders and (2) to protect the long term future of the company. In particular, although the company tended to retain its employees due to the culture of the firm, an employee ownership structure would help to cement the culture with the ownership structure reflecting the way the company was run.