Gloucester metal roofing and cladding company moves to employee ownership
By Matt Hall | 12th March 2021
Q & M Limited, a Gloucester company specialising in zinc, copper, steel, aluminium and lead roofing, cladding and architectural fabrications, has enjoyed near year-on-year growth in its 30-year history.
And now, owners Paul Quarry and David Eeles are opting to put the Brockworth-based business into employee ownership, via an Employee Ownership Trust at the end of March.
An Employee Ownership Trust is an indirect form of employee ownership in which a trust holds a controlling stake in a company on behalf of all its employees and provides an incentive for owners to sell a controlling stake in their business.
Paul Quarry said: "The move will secure the independence of the business. It gives Q & M control over its future and provides stability and growth.
"We had received an offer to sell the company but decided instead this structure gives our 26 employees a financial stake in the business and a say in how the company will evolve and share in rewards. For clients it provides continuity and reassurance that the business will be here in Gloucestershire for many years to come."
Q & M follows a growing trend of companies opting to move to employee ownership, such as John Lewis Partners, Unipart and Richer Sounds. Both SMEs and family businesses are using employee ownership trusts as a succession option.
David Eeles added: "Becoming an employee ownership trust provides a clear succession strategy for Q & M's directors, with the added bonus of providing increased representation, job security and more opportunity for employees.
"We have a talented and loyal workforce at Q & M. Many employees stay and develop their skills with us over decades. We expect our ability to recruit and retain talent will only improve."
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