Bromsgrove firm transitions to become employee-owned
A Bromsgrove outsourcing specialist has become employee-owned.
The Broadriver Group, which includes Controlaccount, Datatrace Consumer Services (UK), and Sinclair Taylor Management Services, says the transformation of the majority ownership to the Employee Ownership Trust is to “reveal the board’s commitment to its staff and to preserve the group’s values”.
The directors and shareholders said they were keen to secure the business’s future, after trading for more than 40 years, and to recognise colleagues for the contribution they have made.
The current management team acquired a majority shareholding in 2008 and since then has established a client base of over 800 clients.
David Harvey, the managing director of Broadriver, said: “Protecting the values and integrity of the company was paramount when the shareholders were considering succession options. Employee Ownership offers the best chance to do that for all employees across the group.
“The current directors will stay with the business and whilst the day-to-day operations are unlikely to change, I strongly believe that by sharing the financial success of the business, we will motivate our staff further, helping them to play their part in building an even brighter future for the business and themselves.”