Colchester Print Group Becomes Employee Owned
Members of the Employee Ownership Association, the Colchester Print Group, were celebrating their successful transition into employee ownership today. The move provides the company with a succession plan and they become part of one of the UK’s thriving sectors.
Deb Oxley, Director of Membership, Employee Ownership Association (EOA) said: ” We’ve worked very closely with Philip and the team at the Colchester Print Group throughout their move to employee ownership. They are now part of a growing sector that contributes £30bn annually to the UK economy. Employee owned businesses achieve higher productivity and greater levels of innovation and are more resilient to economic turbulence. They also have more engaged, more fulfilled and less stressed work forces.”
Philip Colchester, Chief Executive, Colchester Print Group said: ” The move into employee ownership is a very good way of securing the future of the business for generations to come. We are very grateful to the support and advice of the John Lewis Partnership, who have been very open and willing to share the workings of their unique business model, as we have made this journey toward employee ownership.”
Colchester Print Group’s employee ownership structure uses an Employee Ownership Trust (EOT) with an additional facility that allows employees to invest directly in their own name.
