Gilbert-Ash becomes Employee Ownership Trust

Managing director Ray Hutchinson said the decision followed lengthy consideration by the Board who determined the “time was right” to change its ownership structure. 

He said: “The recent success of Gilbert-Ash has, in many ways, been built upon the fact that we have been an employee-owned company for more than 50 years. 

“Moving to an Employee Ownership Trust embraces that fact further and replaces the existing narrow shareholding with a structure that is designed to benefit all employees in perpetuity.” 

Established by the UK Government in 2014, EOTs were created so employees could acquire, through the sale of shares by existing owners, a controlling interest in a company. 

Gilbert-Ash reported its highest-ever turnover in 2023 of £267 million.  

Its order book features several high-profile projects including the refurbishments of Tate Liverpool and Theatr Clwyd in Wales. 

Hutchinson added: “We are confident that the transition to an EOT is firmly in the best interests of our people, the future success of our business and retains our roots as an employee-owned company. 

“As an employee-owned company we have seen the benefits of improved loyalty, productivity and innovation from our people, and we believe moving to an EOT will enhance these values even more. 

“This restructure will give our people a greater say in the future growth and direction of Gilbert-Ash.” 

PwC were advisors on the restructure. 

Was this interesting? Try: Record revenue and orders for Wates          

If you have a tip or story idea that fits with our publication, please contact the news editor rory@wavenews.co.uk