Fitfield civil engineers latest firm to adopt employee ownership model
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Fitfield the groundworks contractor based in the North West has become the latest contractor to switch to employee-ownership, a model being followed by many in the construction industry.
The company which was established in 1990 and in based in Manchester, is a specialist in groundworks and civil engineering, said the move would ensure that any decisions taken by the business represent the best interests of its 60-strong workforce.
John Maxwell who is Fitfield managing director said that the switch to being an EOT would preserve the independence of Fitfield, and provide a structure for the long-term for all employees.
He commented saying that: “We are one of a small but growing number of businesses in the UK to adopt this truly inclusive structure.”
The majority of shares in Fitfield are now held in the EOT, with the trust operating via a trust board for the benefit of the entire workforce of the business.
Maxwell commented further saying that “This is an important evolution of our company and we look forward to continuing to work together to develop our business and making sure Fitfield has ongoing success.”
Fitfield provides services including site clearance, foundations, slab construction, drainage, hard landscaping and roads and sewers to clients including house builders Barratt Homes Redrow Homes and Taylor Wimpey .
Fitfield completed the move over to the employee ownership model by following expert advice and guidance from accountants and business advisors Beever and Struthers and independent law firm Brabners.