CPC transfers to employee ownership

Consultancy CPC announced this week that it has transferred ownership to its employees. 

The move was executed through an Employee Ownership Trust (EOT) – a government initiative that promotes employee ownership by allowing business owners to sell their shares to an employee-owned trust free from capital gains tax.

Over the past 12-18 months, shareholders of CPC have considered the options available regarding the future ownership of the business and how best to prepare for its next stage of growth.

The transfer of business structure to an EOT means that CPC will be owned by each one of its employees.

Steve Mole will continue as chief executive alongside the current board of partners. The board will remain responsible for managing CPC’s daily operations and business interests.

The EOT will be governed by a board of trustees, who will be responsible for ensuring the success of the trust for the benefit of CPC’s employees.

Mole said: “We’ve been working for many months to ensure that this change in business structure is in the best interests of our employees and clients, as well as cementing CPC’s long-term strategic commitment to remain an independent and agile project and cost management consultancy.”

This article was originally published by Construction Management.