Land Rover Defender expert transfers to employee ownership
Twisted Automotive Group, a North Yorkshire-based Land Rover Defender specialist, has transitioned to ownership by an employee ownership trust (EOT).
In a deal advised on by Paul Land of Tennant Land Partners, the staff from Twisted Automotive and specialist dipping company, Hydrographics, will now collectively share full ownership of the business.
This is designed to provide staff with a greater incentive to influence business decisions, along with day-to-day benefits and financial rewards.
Twisted founder Charles Fawcett will remain in his role as managing director. He said: “It is with great pride that we enter employee ownership, a venture that recognises both my appreciation of my hardworking team and the importance of their contribution to the company’s success.
“Twisted has secured its future independence with a focus on its people, by offering them the opportunity to own the business that they have helped to build and empowering their future growth and development for years to come.
“The business will flourish under their steam because of this.
“Setting up an EOT scheme is a very exciting stage in the company’s history and is key to our succession planning in the wider business arena.
“And whilst we’ve created a more employee-centric structure, our board of directors will remain active in their current roles and continue to contribute and drive the business to new heights.”
Founded in Thirsk and with additional locations in Kensington, Salcombe, Silverstone, Austin (Texas) and Dubai, The Twisted Automotive Group now employs 35 staff and turned over £6m in the year to December 2021.