Compliance and safety consultants transition to Employee Owned Trust
The founders of Trafford Park-based compliance consultants Airborne Environmental Consultants Ltd have started the process of selling the company to an Employee Ownership Trust (EOT).
Founded in in 1997 by founders Robert Harris and Mandy Reid to provide asbestos consultancy, AEC has over 130 full-time staff working to provide services across asbestos consultancy, Legionella and water hygiene, occupational hygiene, fire safety, health and safety services, and also trains over 3,000 delegates a year.
The new AEC Trust model means that employees of AEC can now take a significant collective stake in the company, allowing them to be more involved, informed and committed to the company and share in its success.
Mandy Reid, Director, Airborne Environmental Consultants Ltd (AEC), said: “At the heart of AEC has always been a key focus on how we look after our staff and customers, and it was very important to me that we continued to protect the legacy of what we had built and that we also secured the future growth plans for the company. Any member of the AEC team, whatever their role in the business, will be in control of their destiny.”
The transition to an EOT supports what the company calls “a robust succession plan for our founders and the future” giving employees a voice and entrusting the company’s legacy to “those people at the heart of the business”.
AEC director Bob Harris said: “Under the new ownership structure, the trust will ensure the company continues to operate with a common goal and that we put in place the framework to secure the longevity of the company for the future.
“After 27 years of building the business, it was important when considering the move to an EOT that we were able to allow all staff to feel the benefits of their success.”
EOT’s were introduced in 2014 and are seen as a tax efficient way for owners to unlock value and create opportunities for the next generation of employees.
According to the Employee Ownership Association (EOA) there are over 1400 EOT’s in the UK, contributing over £30billion in GDP.
