Marketing and communications agency Newhall Publishing has handed over ownership to staff as it marks its 60th year of business.
The agency, which rebranded from a magazine publisher to multichannel content publisher in 2014 and has delivered campaigns for British Cycling, The Royal Windsor Horse Show, The Kennel Club, and The Game Fair Society, transferred 100% of its shares to an employee ownership trust (EOT).
The business said the EOT guarantees its future and rewards the work of its team, building on its success during the Covid-19 (Coronavirus) pandemic, a period in which six clients joined its portfolio.
Chairman Andrew Douglas will exit the business, which will continue to be managed by joint managing directors Christine Blackford and Richard Woolliams.
Douglas said: “Preserving the long-held cultural values of the business was paramount to me and, after 40 years in the business, it was obvious that employee ownership was a natural progression.
“My goal of creating a sustainable future for the business, and indeed an exciting succession, has been achieved. And as Newhall celebrates 60 years in business, now is the time to stand back and let others lead the team.”
Blackford added that the business has always been run with its employees at its heart and that the EOT was a further step in setting it apart from competitors.
Woolliams said: “The organisation’s values and approach to doing business are what attracted me to join the team in early 2014. I am proud of what we have achieved – especially growing during the pandemic – and we start 2022 with new talent, new clients and an optimistic outlook.”
Law firm Brabners’ specialist employee ownership legal team supported Newhall throughout the EOT process.
A number of organisations have become employee owned already this year, including Edinburgh-based childcare business Kidzcare being handed to its 150 employees under an agreement with co-founder Anne-Marie Dunn.