Optagon Group has become employee owned through an employee ownership trust model.
Based in Coventry, Optagon owns and operates brands such as flat roofing materials specialist Rubber4Roofs, Roof Depot, SkyGuard and Kitbuildr. Its 50 employees now own the majority of the firm and have a meaningful stake in its future success.
The firm decided to establish an employee ownership trust model after receiving an offer from a larger organisation to buy the business. Co-founders Tom and Tina Cullingford turned it down in order to let the staff be in charge of their future.
Tom Cullingford will stay on as managing director as part of a senior leadership team that will run the business day to day. He will be joined on the board by two newly appointed legal directors, general manager Antony Murray and finance director Zoe George. Employee-owned corporate finance adviser BCMS supported the shareholders and senior team throughout the employee ownership transaction.
Tom and Tina Cullingford said: “It takes a lot of hard work and determination to build a company, and it takes a great team to build a great business. We believe the best way to achieve that is to involve every single member of staff in how it is run. This is a terrific busines; 2023 has been our best-ever year, and we wanted all staff to benefit from that success as we continue to grow.
“We’d like to thank the BCMS team for their guidance and support in making the transition to employee ownership as smooth as possible. Their people-first approach, hands-on assistance and expertise in multiple aspects, from valuation to communication, were invaluable. Crucially, having BCMS on board allowed the senior team to get on with running the business and not be distracted by the demands of the deal.”