Steel specialist transitions to employee ownership 

Nusteel Structures has announced that it has transferred ownership to its employees. 

The current board of directors will remain in place and will have full control of strategy and business decisions. 

In practice, EOTs do not involve direct share ownership by employees. Instead, a controlling interest in the company is transferred to an all-employee trust, which is then held for the benefit of employees. 

Nusteel, which specialises in the design and fabrication of bridges for major road and rail infrastructure projects, was founded in 1954 by WWII Royal Engineer veteran Robert Benson.

In a LinkedIn post, the company said: “We believe we are well-placed and equipped to continue to work with all of our partners and supply chain on socially responsible sustainable projects that demonstrate our company’s high standards in quality, innovation and design.

“We would like to sincerely thank all our colleagues, clients, and supply chain members for their contribution towards making Nusteel the success story it has become.”

Read more: Employee ownership trusts: what are the pros and cons?