Napier, a leading B2B technology marketing and PR firm with offices in the UK and USA, today announced it has become an employee-owned business. An Employee Ownership Trust (EOT) has acquired 70% of the shares in the company, making employees the majority shareholder. Becoming employee-owned ensures that Napier can remain independent, preserving the culture of the agency and providing clients that the agency is committed to the long term.
Employee ownership is an increasingly popular way to ensure a sustainable, long-term future for successful businesses. According to the Employee Ownership Association, employee-owned businesses deliver greater productivity, more innovation and have better resilience to economic changes that other forms of business ownership. achieve higher productivity and greater levels of innovation and are more resilient to economic turbulence. Employees are also more engaged, more fulfilled and less stressed.
“Napier, an International B2B Tech PR and Marketing Agency Becomes Employee Owned.“
“Employee ownership is rapidly becoming the best way to secure the future of independent companies, particularly those in professional services, such as marketing agencies.” commented Mike Maynard, CEO and Managing Director of Napier. “I’m excited about continuing as managing director, and look forward to watching the company grow helped by the many benefits of employee ownership for the Napier team and our clients.”
The trust structure used in this deal means that employees now own a controlling stake in the business without any cost to themselves, and with no need to borrow from third parties such as banks.