A North Somerset printing business has become majority owned by its employees.
Handy Brand operates two businesses; Handy Labels, which provides stickers for more than 63,000 customers, and Handy Tags, which produces retail swing tags, bottleneck tags and door hangers for small and large organisations.
The company, which is based in the Harbour Road Trading Estate in Portishead, has announced the completion of a trust scheme which will see its staff share a 51% stake.
The new structure will allow Handy Brand to appoint a board of trustees, with workers deciding if they want to join the board. Employees will collectively make decisions on the daily running of the business and how it allocates funds.
The firm said the deal provided staff a “tremendous opportunity” to share in its success, after a period of “outstanding growth.”
Despite challenges posed by the pandemic, Handy Brand said it had increased its order volume by 40% between 2020 and 2021, supplying hand sanitiser labels to businesses whilst also donating labels to the NHS.
Owner Martyn Kilford, who established the venture in 2007, said moving to an employee ownership model would give the business a “big advantage” over its competitors.
Mr Kilford said: “Without our excellent team members and loyal customers, Handy Brand’s success would be nowhere near what it is today. That’s why I decided to set up the employee ownership trust scheme, to show my huge appreciation for their unwavering professionalism and empower their future development for many years to come.”
Law firm GS Verde Group advised and supported throughout the transaction.
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