A controlling stake in office and home office furniture manufacturing group Bisley has been given to its employees.
Owner Anthony Brown has established an employee ownership trust, gifting the 500 staff with 51% of the £67m turnover company.
The development of the EOT has been an integral part of Brown’s ongoing succession planning since he began working for his father in 1960, buying the company from his father a decade later. Then it had sales of £370,000 and 45 staff.
He will continue as non-executive chairman. ‘For some time now, along with the board, I have been seeking ways in which to ensure the long-term success of Bisley, and at the heart of this for me has always been the most important element of Bisley – our people,’ he says.’
‘From the very start of my career at Bisley 15 years ago, the one constant I feel is that the employees feel part of one big family under the ownership of Mr Brown, which is a rare feeling that you don’t get elsewhere,’ says Sam Ostrolenk, Bisley senior designer.
‘When I first heard that Mr Brown was creating an Employee Ownership Trust, it was moving to know that this is being created for all the workers, who have been at the very heart of the company’s growth and success – something we all know Mr Brown has always put first. The EOT secures the future of Bisley, and we thank Mr Brown for his incredible act of kindness and generosity. He is one of a kind and an incredibly unique and noble person.’
‘It has been an honour working with Mr Brown, bringing this exciting change to galvanise and unite all of us at Bisley’, said Richard Costin, Bisley ceo. ‘Our staff across the world mean so much to us and it has been a pleasure to complete the EOT at such a challenging economic time. This important announcement provides reassurance to our staff, customers and suppliers and it allows our ethos, values and independence to continue to thrive, while allowing us all to share in the success, and to continue the incredible legacy that Mr Brown has set.’
