Source: Employee Ownership Association
Founder and Chair of School Trends, Peter Beeby, has always been committed to coownership principles and started to actively pursue employee share ownership with the death of his co-founder and friend in 1994. School Trends supplies school uniforms from its base in Sheffield and currently employs 150 staff, turning over £11 million in 2007.
Beeby established an employee share ownership trust in late 2004, funded through a contribution of company cash, a bank loan and a deferred consideration on the part of the existing shareholders (that is, they agreed to be paid off over a period of five years). Three quarters of the shares of the company were transferred into the trust and the remaining quarter continued to be owned individually by employees.
Publication Date: 2009-01-01