Surveying practice Trident Building Consultancy, which has offices in the UK and Dublin, has transferred ownership of the business to its 90-plus employees, with all shares passing to an employee ownership trust (EOT).
According to the directors, the existing management structure will stay in place, with the EOT managed by five trustees. They will act on behalf of all employees, who will benefit from a greater say in how the firm is operated and how available profits will be shared every year.
Trevor Dowd, managing director and co-founding partner of Trident Building Consultancy, said: “We have been looking at various options for Trident’s future, looking for one that would benefit all our staff as well as one that secured our long-term success. We have put in place a succession plan that will see new generations at Trident continuing to support our existing clients and developing new ones based on our reputation long after myself and others have retired.
“We think the EOT is the perfect solution and we are incredibly excited for the next chapter in the Trident story. I genuinely believe this is an amazing opportunity for every employee to become a part owner of the business.”
Daniel Roe, executive director at Trident Building Consultancy, added: “Trident has always been a people-centred business, so when we were looking at options for the future, setting up an EOT was the obvious choice. It’s always been vital to us that our staff feel a strong sense of value and belonging, and the EOT is the most tangible and practical way of us demonstrating that.
“The move secures the Trident brand for the long term and moving forward it can be steered by its most valuable asset – our people.”