The facilities management contractor Churchill Group reports that it has become an Employee Ownership Trust (EOT). That enables a company to become owned by its employees; and can be set up by a company’s owners. 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 employees.
Churchill says the move will ensure it remains true to its founding entrepreneurial ethos, and its core values while continuing to grow and evolve for the greater long-term benefit of its employees, customers and communities. The firm says that the decision was taken based on the multiple benefits to the employees and the opportunity for everyone in the company to benefit from the reward and to put in place responsible succession planning.
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.”
The company, with head office in Luton, adds that it continues to be managed by the leadership team, with the founders acting as a guiding hand. Churchill Group was supported and advised on the EOT transaction by the audit firm Grant Thornton UK LLP.
About Churchill
Its businesses are Churchill Cleaning, Amulet, Portfolio, On Verve, Chequers, Churchill Environmental, and Radish; offering cleaning (recently winning a three-year contract with the Metropolitan Police), security, front of house, water hygiene, social housing FM and groundworks, and catering services across sectors. Clients include British Land, The Instant Group, Scottish Power, The Institute of Directors, GTR, Eurostar, Network Rail High Speed, LSER, JLL, Port of Dover, Canary Wharf Management, Norton Rose, Dorset Fire and Rescue, c2c, and the Greater London Authority. Visit http://www.churchillservices.com.
