Orchard Now Employee Owned
As of today, Orchard is officially owned by our team after the company set up an Employee Ownership Trust (EOT), one of a small number of Welsh pioneers who are following well-known brands such as John Lewis Partnership, Aardman, and Riverford.
14 years after bursting on to the agency scene, Orchard is officially now in the hands of our talented team in a move that will protect the future independence of our £15m turnover company.
With the original founders moving on, the ownership of the business has been transferred to our team, with an employee-owned trust now owning and managing the company, the latest Welsh business to take this increasingly popular corporate route.
“As of today, every member of the team is part of a trust that owns Orchard. As trustees, every single one of us is empowered, and has a vested interest in making a success of working with our clients in a mutually beneficial way. The reaction of the team has been tremendous, there’s a great community spirit here, and we’re all excited at what the future holds for us.”
EOTs are becoming an increasing popular way to keep corporate ownership within the country of origin, in our case Wales, to secure jobs and provide more opportunities for talent to build their careers here.
There has also been a recent restructure in the senior leadership team, with Jim Carpenter and Kerry McDonald taking the reins as Co-Chief Executives, and Phil Morgan joining as Chief Finance and Operating Officer.
The EOT transfers ownership of the company to a trust, whose trustees of senior figures within Orchard and independent directors will look after the interests of all employees. Current shareholders will be re-imbursed in line with an agreed payment schedule, and a proportion of future incremental profits will be available for distribution to trustees in line with the trust’s oversight. There is no cost or liability for individual workers, but instead a great incentive to ensure the business continues to thrive.
The EOT was achieved with the specialist EOT knowledge and invaluable support of Andrew Evans at Geldards, Paul Cantrill, a Corporate Advisor with Cwmpas, Azets and Specialist Accounting Solutions.
“The Orchard founders Al Wilson, Matt Wordley and Pablo Janczur built great foundations for the company, and we’ve achieved so much in a short time. Now the EOT model will repay the hard work and commitment of the team here, and give us all the opportunity to drive our strategic direction. The ethos behind EOTs aligns well with the values we’ve nurtured in the company, and this team are the people best placed to benefit from its future success.”