The EOA congratulates the Rooflight Company on its EO transition plan
The EOA is delighted to see its member the Rooflight Company is on track to transition to employee ownership in March.
The move will help its founders secure the future of the business as they plan their exit.
Deb Oxley OBE, CEO of the Employee Ownership Association, said: “We congratulate the Rooflight Company on its planned transition to employee ownership supported by our members Postlethwaite Solicitors and J Gadd Associates.
“By widening ownership of the business to its employees the Rooflight Company is securing the future of the business, including its ethos, values and employees, while rooting itself locally for the longer term to the benefit of the community it serves.”
Below follows a press release from the Rooflight company.
The Rooflight Company announces plans to become Employee Owned
With over 25 years since the creation of the original Conservation Rooflight®, the Rooflight Company founder and architect Peter King and MD Val King announced today that they are preparing to transition the company into Employee Ownership.
The Rooflight Company offers an extensive selection of high-quality rooflights, roof windows and skylights, and has built an outstanding reputation for innovation and design excellence. Underpinned by this ethos of innovative design, it is continuously evolving its product range and breaking new ground with its acclaimed, industry-leading concepts.
The decision to become employee owned has been made to ensure the three core principles of values-led culture, innovation and long-term sustainability are maintained. Becoming an employee owned company also avoids the disruption to staff following a trade sale and will ensure the high-quality products remain authentic, and the values of the company remain at the heart.
The Rooflight Company joins a growing family of Employee Owned businesses, such as John Lewis and Aardman Animations. Employee ownership is also becoming increasingly popular amongst Architectural practices, of which there are currently 16 across the UK.
Other Employee Owned businesses have benefited from:
- Higher productivity and greater levels of innovation*
- 25% increase in operating profits*
- More resilience to economic turbulence**
- More engaged, more fulfilled and less stressed workforces**
Managing Director Val King, said: “We are delighted to announce our upcoming transition to employee ownership, which means that in March employees will become Co-owners of the Rooflight Company through a newly formed trust. As a company led by our strong values of Integrity, Care, Empowered and Unity, employee ownership feels like a natural progression where we will seek to demonstrate that business really can be a force for good.”The Rooflight Company are now in the exciting stages of transitioning to employee ownership which is due to be completed in March 2019.Deb Oxley OBE, CEO of the Employee Ownership Association, said: “We congratulate the Rooflight Company on its transition to employee ownership supported by our members Postlethwaite Solicitors and J Gadd Associates. By widening ownership of the business to its employees the Rooflight Company is securing the future of the business, including its ethos, values and employees, while rooting itself locally for the longer term to the benefit of the community it serves.”
references:
* https://employeeownership.co.uk/wp-content/uploads/Employee_Ownership_Top_50_Infographic.pdf
** https://employeeownership.co.uk/what-is-employee-ownership/
