PB Design launches employee ownership trust

Standby power supply firm PB Design has become 100% employee-owned after transitioning to an employee-ownership trust model.

AnneFrancke_Aug15

PB Design Employee Trustee, the trustee of the PB Design Employee Ownership Trust, which was advised by law firm Fieldfisher, acquired all the shares in the organisation in July 2015. 

The move to employee ownership aims to strengthen the link between staff engagement, performance and reward.

The organisation previously used tax-advantaged profit-sharing and share option plans to align employees’ objectives with those of its customers, and the employee buy-out has been introduced to reinforce this goal.  

Tim Broomfield, managing director of PB Design and former majority shareholder, said: “This is an important event, which secures the future independence of PB Design. It also creates a clear link between employee engagement, performance, and reward.

“Success continues to be measured by the satisfaction of our customers, but is now permanently aligned with that of our employee owners. It is a win-win-win situation: existing shareholders get fair value; employees own their business; and customers have a highly motivated supplier.

“Add in the tax benefits to shareholders and employees and it becomes an even more attractive option for any ownership succession plans.”

Ann Francke (pictured), chief executive of the Chartered Management Institute, added: “Employee ownership goes hand in hand with more democratic management styles.

“Our research shows the benefits are clear, with high levels of employee commitment, more caring ethical mindsets and a more long-term approach to business decisions.”