Member News | ADT Workplace becomes a 100% Employee Owned business
Commercial interior design, build and delivery specialist, ADT Workplace has today announced that it has placed 100% of the business into employee ownership, heralding the start of an exciting new chapter in the history of the company.
Started in 2005 by David Clemetson, Tommy Cocking and Ashley Smith, ADT Workplace has grown to be one of the leading independent commercial interiors organisations in the North West, employing over 60 people at its Manchester HQ. Having grown turnover this year to £45m, the founders have decided now is the right time to change the ownership structure of the business.
They have transferred 100% of the 16-year-old business into an Employee Ownership Trust (EOT), a framework which has been shown to significantly improve job stability and business performance, demonstrating their commitment to creating a vibrant future for the company and its employees.
Commenting on the move, David Clemetson, said:
“We’ve spent quite a long time considering the succession plan for the business, but the right opportunity has never presented itself. We wanted to ensure the company’s continued success, without compromising on the family feeling and culture we have created within the business. When we explored the option of placing the business into an Employee Ownership Trust and the benefits it offers, we realised it was the ideal fit for us.
“The employee ownership model has a proven track record in creating long term growth and security, and gives employees a real role in determining and sharing in the future success of the business. Over 50% of our people have been with us for more than five years and 25% for over 10 years, which is a testament to who we are and the people within the business. Our new structure will allow everyone to benefit from their commitment, by giving them a financial stake in the company, but also a personal stake and a voice in how the business is run.
“For our clients, this won’t change how we work with them. The management team will continue to lead the company as before and our clients can expect to receive the same industry-leading quality and service ADT Workplace is known for. With a fantastically talented and passionate team in place, I’m excited to see what the future holds and am very much looking forward to sharing it with them.”
Moving forward, David will remain as a Board Director of the business. ADT Workplace’s current Commercial Director, Richard Mansell, and Operations Director, Jeremy Cox, will both step up as new Board Directors, and continue to support David in leading the day-day-day running of the company.
Deb Oxley Chief Executive of the EOA said:
“We congratulate ADT Workplace and its new employee owners – their move to employee ownership will sustain the values and independence of the business for the longer term.
“Businesses that give employees a stake and a say build trust and shared responsibility, therefore uniting leaders and employees behind a common purpose. This leaves the business in a better position to flex and adapt for the future.”
For further information on ADT Workplace, please visit www.adtworkplace.com or call 0161 6550290. Twitter: @ADTWorkplace