EOA congratulates Hardscape after creating ‘enduring ownership structure’ with transition to EOT
The EOA congratulates Hardscape Products Ltd after announcing its transition to an Employee Ownership Trust (EOT).
Hardscape Products Ltd was founded in 1992 by Mathew Haslam to provide an optimum choice of hard paving materials for use in the streets, towns and cities across the UK and overseas.
For 30 years, working with a global supply chain, Hardscape has provided designers and construction partners with a choice of materials. Combined with technical expertise, an open and honest approach, an ambitious ‘it-can-be-done attitude’, with a sophisticated logistics and production facility, this offer has aided the creation of many award-winning and ground-breaking schemes across the UK from its bases in Bolton, where it is headquartered, London and Edinburgh.
Managing Director Mathew said: “People are a massive part of why we achieve what we achieve, and with that in mind and to further our company ambitions we are pleased to announce that Hardscape has become an employee-owned business.
“This creates an enduring ownership structure with tangible employee benefits, resulting in a long-term strategic view and increased business investment, for the benefit of our customers and business partners.”
He added: “Environmental and social governance will always be key facets of the business, as are our company values, which have enabled Hardscape to build a loyal, experienced team with rich experience across all areas of the business, empowering the staff to deliver the very best professional service and products to both customers and partners.
“Our values which are embedded into everything we do allow us to deliver products and services which our customers expect.”
Going forward, the leadership of the business will be forged by its existing Directors, Alex Warren, Anthony Collins, Chris Wood and Dave Lowe, assisted by a senior management team and supported by Mathew and Nick Owen as a newly appointed Independent Trustee Board Director.
Mathew added: “Big thanks for huge support from KJG, HSBC, CGP and the Employment Ownership Association (EOA) in providing valuable input to enable this transition.”
Growth of sector
Employee ownership is one of the fastest growing business succession solutions in the UK, where there are now more than 1,000 employee-owned businesses, with the sector more than doubling in the past three years.
The fast pace of growth amongst businesses has taken off with the use of the employee ownership trust (EOT), introduced by the government in 2014 to encourage long-term employee ownership, and one in every 20 private company sales is now to an EOT, with Hardscape joining a network of EOTs in the UK that include Richer Sounds and Go Ape.
James de le Vingne, Chief Executive of the EOA, said: “We congratulate our members Hardscape on its transition to employee ownership; securing the ethos, values and culture of the business, as well as rooting jobs in its communities.
“Businesses that give employees a stake and a say build trust and shared responsibility, uniting leaders and employees behind a common purpose, and leaving businesses in a better position to flex and adapt.”