Manufacturing, construction and architecture business Gusto Group will transition to an employee ownership trust (EOT) as part of its goal of achieving shared success and fostering a culture of entrepreneurship.
A total of 100% of the firm’s ownership will be transferred to an EOT on 31 March 2027 as part of its three-year timeline.
Share options have been issued to all employees, including new starters, to encourage business growth over the next three years and to ensure those responsible for making the business a success will benefit. Employees will begin to receive tax-free payments related to the value of their share options from April 2027.
The aim of the EOT is part of the organisation's dedication to inclusivity, collaboration and the long-term prosperity of its workforce. The group also wants to build a legacy for the employees who will be creating the firm’s future and to help them feel invested in and committed to its continued success.
Steff Wright, chairman of Gusto Group, said: “Approaches from several parties interested in purchasing Gusto Group prompted me to rethink the business’ future. I wanted to find a way for the employees that have worked so hard to build Gusto Group to be the ones to benefit from its continued growth. I am also passionate about it maintaining its identity and ethical ethos. Transferring ownership to our employees was the option that aligned with our values.
“By granting employees the opportunity to become shareholders, Gusto Group aims to build a stronger sense of unity, motivation and accountability throughout the organisation. By transitioning to employee ownership, we are continually ensuring that our business strategy matches our values, and that sustainability and shared prosperity remain at the forefront of everything we do. I’m extremely excited to see it continue to go from strength to strength and for our staff to benefit from this success.”
