Soft services provider Churchill Group has become an Employee Ownership Trust (EOT), a form of business ownership in the UK that provides employees with a significant and meaningful stake in their employer organisation.
The group says the move will ensure it remains true to its founding entrepreneurial ethos, and its core values while continuing to grow and evolve for the greater long-term benefit of its employees, customers and communities.
According to Churchill, the decision was taken based on 'multiple benefits' to employees and the opportunity for the company to engage in responsible succession planning.
James Bradley, group CEO, explains: “Churchill is proud of its difference in the FM market, achieving significant growth over 30 years.
“Our colleagues are what makes Churchill’s specialist businesses so successful which is why our founders wanted it to be them who should share in the future success.
The EOT is a natural transition as it continues our unique culture and retains our values of doing right, seeking better and putting people first.
“When considering ways in which to take the company forward, we were impressed by the benefits becoming an employee-owned business would bring including furthering our sustainable purpose with better impacts for people and the environment.”
According to research by The White Rose University Consortium (a strategic partnership between the Universities of Leeds, Sheffield and York), the number of employees who are beneficiaries of EOTs has doubled since 2020.
Group brands Churchill Cleaning, Amulet, Portfolio, On Verve, Chequers, Churchill Environmental and Radish continue to be managed on a daily basis by the existing leadership team.
Grant Thornton advised Churchill on the transformation to EOT status.
