UK-based specialist asset finance company Liberty Leasing has transitioned into an Employee Ownership Trust (EOT) structure, effective 29 April 2024.
This move will see the company’s shares acquired by the EOT, which will hold a controlling interest for the benefit of its employees.
The new structure allows staff to have a stake in the company’s future without the need to directly own or buy shares.
Introduced by the government in 2014, EOTs are designed to encourage more shareholders to adopt this inclusive corporate structure.
Liberty Leasing joins more than 1,500 UK companies that have embraced employee ownership, a model that is reportedly linked to enhanced company performance.
The founders of Liberty Leasing, Tony Captain and Greg Randall, established the company in 2001 on the south coast.
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By GlobalDataFollowing the change in ownership structure, the day-to-day operations of Liberty Leasing will remain under the guidance of the senior leadership team.
Allan Clegg, managing director; Paul Sheedy, commercial director; Laura Roberts, legal director; and Alan Cooper, finance director, will continue in their respective roles.
As part of the transition, Captain and Randall will step away from the business. However, Captain will maintain a presence on the Trust board, with Robert Harris taking the position of chair.
Clegg stated: “Many businesses in our sector get acquired by larger competitors or outside investors as they grow. In order to maintain what we have built and drive the business forward, we have created the Liberty Leasing Employee Ownership Trust.
“We have worked hard to create a successful company with a unique culture, built on a passion for our customers and an exceptional team. It is only fair that everyone shares in the current and future success of the business.”