Laurus Development has launched an employee ownership trust.
As part of its move from the public to the private sector, the qualification and learning provider to the justice sector is now 25% owned by its employees.
Laurus Development has been advised by law firm Fieldfisher on its move to employee ownership since 2013.
The team was led by Graeme Nuttall OBE (pictured).
Nuttall said: “There is a tremendous momentum to the growth of the employee ownership sector.
“Laurus Development is not alone in realising that involving all employees as owners is a great way to grow a business.
“Orgnisations with employee ownership have a track record of greater innovation. This makes sense. If all employees have an ownership stake, everyone working in the business has an interest in growing that business, not just the founders.”
Saleha Wadee, chief executive officer and co-founder of Laurus Development, added: “I am delighted at achieving our vision for Laurus Development of involving all staff as owners through an employee trust.
“The business is developing at a fast pace with high levels of employee engagement. Graeme Nuttall and the Fieldfisher team have provided a strong sounding board and advice on our journey to employee ownership.”
