Tibbalds Planning and Urban Design has increased employee ownership to 60%.
The independent planning, urban design and architecture consultancy introduced majority employee ownership earlier this month when its employee ownership trust (EOT) bought shares from the organisation’s four founders: Hilary Satchwell, Jane Dann, Jennifer Ross and Sue Rowlands.
The move is part of the company’s long-term business plan to harness and strengthen its ethos and culture, look ahead to succession, and retain its independence as a business that can be passed onto future generations of employees.
Employees in an employee-ownership trust organisation can receive income tax free bonuses of up to £3,600 per tax year.
A team from law firm Fieldfisher, led by partner Graeme Nuttall OBE, advised Tibbalds on the introduction of majority employee ownership.
Jane Dann, one of Tibbald’s four founding directors, said: “We value our independence, our individuality, and our role as specialists, working with clients in a way that’s focused squarely on what they need to make good places happen.
“So it’s important to have a long-term plan in place and to attract and retain the right people, particularly at a time when many practices in our sector are consolidating or being absorbed into bigger names. We also want to make sure that everyone in the team benefits directly from our success.”
Katja Stille, associate director at Tibbalds, said: “The decision to move to an EOT means that everyone has a greater stake in the business, and we’re really excited about the opportunity to become more involved.
“As employees, we’re even more focused on the same goals and how we all, individually, can help shape the practice’s future and success.”