Historic contractor sold to staff
AI Article Summary
Emanuel Whittaker Ltd, a historic contractor operating since 1837 in the North West, has transitioned to an Employee Ownership Trust. After nearly 60 years, Managing Director Clive Newton and co-director John Gallagher chose this path to ensure the firm's legacy and values continue without risking closure or significant changes. The transition was supported by accountancy firm Xeinadin, which emphasized the sustainable, value-driven approach of employee ownership.
What This Means for Canadian Contractors
For Canadian builders, this means that transitioning to an Employee Ownership Trust can serve as a viable succession plan, particularly for those valuing legacy and community engagement. This project shows how maintaining company values and securing long-term stability can be achieved without major structural changes, providing insights into alternative ownership models that may impact decisions related to firm sustainability in the Canadian context.
