Press release
Postlethwaite Solicitors becomes 100% Employee Owned
On their 20th anniversary the London and Leeds based boutique practice becomes employee owned through an employee ownership trust (EOT)
Postlethwaite Solicitors, a national practice specialising in employee ownership (EO) since 2003, have now themselves become 100% employee owned.
Robert Postlethwaite, Postlethwaite’s Founder and Managing Director, states: “After 20 years advising our clients on how to become employee-owned, in more recent years often through an EOT, the time is right to do this ourselves. Our success has always been generated by the talent we enjoy throughout our business, making EO for us a compelling foundation for our continued growth”.
We have always had employee ownership through a company share option plan, but now we have taken the big step of becoming 100% employee owned through an EOT.”
The plans to become 100% EO had been in the making for a while, and with a few significant hires in 2021/22 now bedded into the team it felt that the time was right to press the button.
Robert plans to remain as a director for the time being and generally it will continue to be business as normal for the firm, with employee ownership building on its existing, open and collaborative working culture.
Postlethwaite further commented:
“Our core purpose has always been to help businesses thrive by providing their key wealth creators – their employees – a stake in the success. 2023 marks the start of an exciting chapter for Postlethwaite and we are proud of all the work involved over the years to have reached our 20th anniversary, become 100% employee owned and also surpass our 100th client milestone in September 2022. They may say good things come in threes, but in our case we plan to make it at least four as we start to harness our employee ownership to further improve how we do business.”
Employee ownership is now part of the mainstream and continues to grow at pace in the UK, with over 1300[1] companies estimated to now be owned by an EOT. Many companies are now actively embracing a change in culture which recognises that EO, by channelling employees’ know how, giving them a voice and greater rewards for success, can make for a better business in several different ways.
[1] https://employeeownership.co.uk/resources/what-the-evidence-tells-us/
More information:
Postlethwaite is a boutique legal practice specialising in employee ownership, with offices in London and Leeds.
The firm and its lawyers are top ranked in their area of expertise by Chambers & Partners and Legal 500. They are specialist advisers to the Employee Ownership Association (EOA), a UK not for profit and politically independent organisation that represents organisations which are employee owned or transitioning to employee ownership.
Robert Postlethwaite sits on the EOA’s Employee Membership Council and is the author of ‘The Employee Ownership Manual’ written and independently published in 2019: https://spiramus.com/the-employee-ownership-manual
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