Bowmer Bond is now an EOT company!

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On 28th September 2022, Bowmer Bond will become employee-owned.  This is a pivotal moment and an exciting time in the long 227-year history of the business, securing our future and giving long-term stability and security for employees.

 

We are proud to be transferring a majority share of the ownership of the business to a trust (Employee Ownership Trust) that can hold ownership for, and on behalf of, all current and future employees of the company.

 

By forming an Employee-Owned Trust (EOT), the current owner and the Board of Directors believe that the company can best serve its customers, employees and all other stakeholders by retaining the values and culture which sit at the heart of the business.

 

By upholding our vision for shared responsibility and reward, community and partnership, it is felt that the Trust can not only retain the autonomy of the company but also allow its employees to become co-owners and, therefore, co-beneficiaries of the future success of the company.

 

Further to this, the transition to an Employee-owned company will also serve the best interests of our customers and the wider markets supplied. Through the employee-owned structure, we are bolstering our established foundations and providing a secure and stable platform for further innovation, growth, and productivity.

 

Evidence has proven that EOT firms are more successful, competitive, profitable and sustainable as staff are engaged, empowered and motivated to be more innovative in their thinking and productive in their work.

 

The most well-known example of an employee-owned company is John Lewis & Partners, but many other companies are also fully or partly employee-owned. We decided to move to an Employee Ownership Trust because we believe that this is the best way, without the distraction of private equity investment or purchase by a larger firm, of staying true to our values, for the long term. We look forward with positivity to a bright and prosperous future for all at Bowmer Bond.

 

 

Business as usual

 

In reality, on a day-to-day level and in terms of business operations, our customers and suppliers will not notice any changes.

 

Our Companies House information remains the same as before and we will continue to operate as before. In terms of leadership, the existing Board of Directors and Management Team will remain the same. A Board of Trustee Directors has been created in addition to these teams and will work alongside to ensure the Trust is being governed in accordance with the EOT deed.

 

Where can I find out more?

 

You can find further information and resources about Employee Ownership Trusts at the following websites:

 

• The Employee Ownership Association (EOA) https://employeeownership.co.uk
• UK Government website https://www.gov.uk/employee-ownership
• Baxendale: https://www.baxendale.co.uk/

 

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This is a pivotal moment and an exciting time in the long 227-year history of our business, securing the future and giving long-term stability and security for employment.

The ownership of Bowmer Bond today transfers to a Trust, set up on behalf of, and for the benefit of, our employees.

By forming an Employee-Owned Trust (EOT), the current owner and the Board of Directors believe that the company can best serve its customers, employees and all other stakeholders by retaining the values and culture which sit at the heart of the business.

Further to this, the transition to an Employee-owned company will also serve the best interests of our customers and the wider markets supplied.  Through the employee-owned structure, we are bolstering our established foundations and providing a secure and stable platform for further innovation, growth and productivity.

We look forward with positivity to a bright and prosperous future for all at Bowmer Bond.

Business as usual

In reality, on a day-to-day level and in terms of business operations, our customers and suppliers will not notice any changes.

In terms of leadership, the existing Board of Directors and Management Team will remain the same.

Where can I find out more?

You can find further information and resources about Employee Ownership at the following websites:

• The Employee Ownership Association (EOA) https://employeeownership.co.uk
• UK Government website https://www.gov.uk/employee-ownership
• Baxendale: https://www.baxendale.co.uk/

Any Questions?

We appreciate that not everyone will have heard of an Employee Owned Trust or understand how this works, so we’ve provided links to expert information.

However, we are happy to help should you have any questions or be interested in further information on the transition.

Please contact us on:

Tel: +44(0)1335 342244
Email: sales@bowmerbond.co.uk

 

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