Thame based Activate Solutions Group announced to its staff on Monday 15th March 2021, that the board and the shareholders have made the decision to take the Group into Employee Ownership, and so they are all now beneficiary owners of the business.
This is a significant step in both securing and shaping the future strategy of the business and one that shares a material stake in the future success of the Group with all employees.
Julian Cordy – Group Chief Executive Officer, who was delighted with the reaction, commented “Over the last year we’ve taken the opportunity to reflect on our longer-term business strategy and the board concluded that this is an opportunity to embrace the benefits of broadening the ownership of the company to all our permanent field colleagues and head office teams. Over recent months we have been working hard to deliver the sale of the Group to an employee ownership trust as we consider that this is a direction which would fit well with our be Proud culture and for further enhancing our employee engagement.”
Mike Cottman – Chairman and founder, along with business partner Steve McQuillan, commented – “Employee ownership affords a new and exciting opportunity for the Group, offering a natural succession to a privately-owned business and providing an incentive for everyone to be aligned to the future success of the Group. We are delighted, therefore, to announce that in February 2021, 100% of the shares in Activate Solutions Group Limited (the holding company of the Group) were transferred into the Activate Solutions Group Limited Employee Ownership Trust. This is a fantastic opportunity that allows us to share with employees the benefits and results of all the great work that the Group employees deliver.”
Employee Ownership for the Group means that 100% of the shares have been sold to an Employee Ownership Trust and that all employees of the Group who have been employed by the Group for a period of at least 6 months are now beneficiaries of the Employee Ownership Trust. This means that the employees will have the opportunity to share in the future value and profits of the business. The Board and previous shareholders believe this is a really exciting opportunity for every employee who now has a personal stake in the future accomplishments of the business.
Julian Cordy commented – “With the strong performance of the Group owing much to the fantastic efforts of every individual involved in the business we felt that selling the company to a competitor was currently not an option that we were willing to take nor would it guarantee the long-term future of the business.
The dynamic culture within the Group and the ongoing potential, as well as the importance of everyone, meant that we did not want to lose the culture, ethos and identity we have all worked so hard to build under the Group name. We hope that putting the company into the hands of all employees will allow them to further commit to the Group with a stake in the sustainability and success of the company. Crucially, everyone can be certain that the best interests of all stakeholders will be at the forefront of any decisions made.
This transition will allow us to continue to run business as usual and will have no other impact on how we operate day to day with our client partners, employees or with anyone else.”
The 70 plus head office team, were amazed, excited and appreciated the news with numerous messages of support and thanks.
‘This is great news’ commented Chris Cook, National Field Sales Manager. ‘Fantastic’ added Data Manager Vijaya Duraiappan, ‘A people focused business owned by the people’ ‘Wow, amazing’ echoed Account Managers’ Freya Wakefield and Gemma Howell. ‘Stunning news’ expressed Store Insights Manager Sandhya Bundhun. A ‘momentous decision’ concluded Commercial Sales Controller Jules Williams.
A prospective client, on hearing the news added: ‘I can only imagine how excited your people are by the announcement. It reinforces everything about Field Sales Solutions as a people focused organization”
