Liberty Leasing, the specialist finance business, today announced that from 29th April, it will be operating under an Employee Ownership Trust (EOT).
Under this new structure, company shares are acquired by the EOT – which holds a controlling interest for the benefit of its employees – allowing Liberty Leasing staff to participate in and influence the company’s future direction, without having to directly own or buy shares.
Employee Ownership Trusts (EOTs) were introduced by the Government in 2014 to encourage more shareholders to adopt this corporate structure. This form of ownership is gaining popularity– there are now over 1,500 employee-owned companies in the UK – and there is strong evidence to show they perform better than other types of ownership structures.
Founded in 2001, by Tony Captain and Greg Randall and headquartered on the south coast, Liberty Leasing is a privately-owned business offering a wide range of services,. It has developed an excellent reputation for providing tailored solutions to its customers and partners.
The decision to create this new structure was driven by the desire to sustain the company’s independence and recognise that Liberty Leasing was built upon the hard work and commitment of its employees.
“Many businesses in our sector get acquired by larger competitors or outside investors as they grow. In order to maintain what we have built and drive the business forward, we’ve created the Liberty Leasing Employee Ownership Trust,” commented Allan Clegg, managing director of Liberty Leasing. “We’ve worked hard to create a successful company with a unique culture, built on a passion for our customers and an exceptional team. It’s only fair that everyone shares in the current and future success of the business.”
Operationally, Liberty Leasing’s senior leadership team, including Allan Clegg, managing director, Paul Sheedy, commercial director, Laura Roberts, legal director, and Alan Cooper, finance director, will continue to oversee the day-to-day operations. Tony Captain and Greg Randall, will exit the business. Tony will hold a position on the Trust board and be joined by Robert Harris as Chair..
