A Cheltenham-based company has transitioned to an employee-owned business, run through an employee ownership trust (EOT).

Dave Giles and Steve Layer, founding partners of Abbey Business Interiors, have been providing interior solutions to the workplace, hospitality, educational and leisure sectors for 34 years.

Abbey Business Interiors has developed a very good reputation with its customers and business partners over many years and plans to build on that success in the future.

The decision to become an employee-owned business was driven by the desire to sustain the company's independence and in recognition of the fact that Abbey was built on the hard work and commitment of its employees.

Dave Giles said: "Having researched the various sale routes, we quickly discounted a third-party sale and an MBO. An employee-owned business is the perfect model to reward employees through the success of the business, and plan senior management exits over a period of time, whilst maintaining confidence and reassurance to employees and clients alike."

Steve Layer said: "By widening ownership of the business to its employees, Abbey Business Interiors is securing the future of the business, including its ethos, values and culture."

Finance and administration director and long-term employee, Jacques Herbst, has joined the company board and will work with the newly appointed trustees to ensure the business continues to grow and develop for the benefit of all employees.

Both Dave and Steve remain committed to the company and will stay in their existing roles, while more roles will be added to the current management team.

Dave continued: "Abbey has always been a trusted partner, ready to support clients and supply chain alike. Now is the time for the next stage of The Abbey Business Interiors journey."

For more information, go to https://www.abbeybusinessinteriors.co.uk or call 01242 263444.