Martin-Brooks Roofing Specialists Ltd, formed in 1984 by Gerald Brooks and Jeremy Martin, has secured the future of the business with the introduction of an Employee Ownership Trust (EOT).
The move sees the Sheffield-based company’s founders, which also includes John Elmore who joined in 1989, transfer ownership to staff.
The new Board of Trustees will be comprised of chairman John Elmore, Richard Christian and Justin Moyse.
Co-founder Jeremy Martin from Martin-Brooks said: “Martin-Brooks started life with just two employees and now has more than 60.
“The switch strengthens our talented team’s commitment, safeguards our long-standing values and secures the company’s legacy. Our firm has always been firmly rooted within the community. It benefits from an engaged and committed local workforce.”
Founders Brooks, Martin and Elmore will continue to be involved with Martin-Brooks; whilst they will step back from the day-to-day running of the business, their positions on the Board of Directors will remain, and they will continue to play an advisory role in the management of the business.
Jeremy added: “The strong management team here will ensure that the business can continue to drive forwards with the key values of independence, community and teamwork whilst retaining, building upon, and further developing the principles the business has held for 40 years.
“Becoming employee-owned gives our amazing team here a genuine say in the business and the brilliant service we deliver to our clients.”
Legal work for the EOT was provided by Tom Haywood (Corporate), Eleanor Storey and Christie Smith (Commercial Property) at Wake Smith Solicitors.
Senior associate solicitor Tom Haywood said: “We are delighted to support Martin-Brooks to become an EOT. The firm is a well-established provider in its market and enjoys a reputation across Yorkshire and beyond for its commitment to craftsmanship.
“Employee ownership is not a barrier to growth or success, with many regularly outperforming their independently owned peers in revenue growth, profits, job creation and productivity. We are excited to see how it will progress under the new structure.”
Tax, accountancy and corporate finance advice was provided by Nicola Edwards of UHY Hacker Young.
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