Bromsgrove-based Broadriver Group becomes employee-owned

Bromsgrove based outsourcing specialist, The Broadriver Group has transitioned to an employee-owned business model.

The group, which includes Controlaccount plc, Datatrace Consumer Services (UK) Ltd, and Sinclair Taylor Management Services Ltd, has now transferred majority ownership to the newly formed Employee Ownership Trust.

Having traded successfully for more than forty years and achieved considerable growth, the Directors and Shareholders were keen to secure the business’ future and recognise colleagues for the significant contribution they made to the business.

The current management team, which includes Managing Director David Harvey, acquired a majority shareholding in 2008, setting the business on a new course, and since then the company has gone from strength to strength, establishing a client base of over 800 clients, which include many leading, global brands. The company has since developed The Broadriver Group and welcomed Datatrace Consumer Services (UK) and Sinclair Taylor Management Services to its portfolio.

David Harvey recognised that a move to an Employee Ownership Trust was the best way to build on the company’s success; protecting its values and culture as well as create a better future for those that work for the group, giving them both a say and stake in the business. The move will also set in place succession plans, built on past success within a stable environment. As an EOT, additional benefits include enhanced colleague engagement, recruitment, and retention.

David said: “Protecting the values and integrity of the company was paramount when the shareholders were considering succession options. Employee Ownership offers the best chance to do that for all employees across the group. The current directors will stay with the business and whilst the day-to-day operations are unlikely to change, I strongly believe that by sharing the financial success of the business, we will motivate our staff further, helping them to play their part in building an even brighter future for the business and themselves.”