We are delighted to announce that the long-term future of the Tecserv UK brand and our employees has been assured following the completion of an Employee Ownership Trust (EOT).
Employee Ownership Trusts (EOTs) were introduced in the Finance Act 2014. For employees, the EOT gives them a direct interest in their future and can result in greater productivity and innovation at work. Employees often become more engaged and committed because EOT shareholders can be entitled to a bonus each year based on profits. Furthermore, if the company is sold at some point in the future, qualifying employees will share in the sale proceeds.
Commenting CEO, Grahame Tilley said, “Tecserv is a great place to work and has a fantastic talented team driving it forward. I am planning on retiring within the next few years, so by adopting an EOT as an exit strategy, instead of selling the business to a 3rd party, we will be rewarding our staff for their hard work and loyalty with long term security and brand continuity.
Founded in 2001, Tecserv UK employs more than 50 people across the UK installing and maintaining fire and intruder alarms, CCTV, access control and fire extinguishers.
Tecserv has developed an enviable reputation within the industry and many leading brands across a variety of sectors trust Tecserv UK to protect their people, processes, and property. These include The Ritz and Bulgari hotels in London, Harvey Nichols, M&S, B&Q, The National Trust, NHS Hospitals and Pinewood and Shepperton film studios.
Professional advice to establish the EOT was provided by John Sykes from Skye Corporate Finance in Leicester, Roger Harcourt from Shakespeare Martineau and Bob Johnson and Pujah Joshi from Mazars Leicester office.