Newcastle design practice Ryder Architecture has become an Employee Ownership Trust to strengthen the future of the business.
The Cooper’s Studios based company works on projects in sectors including education, healthcare, industrial, office, residential, science, hospitality and sport, with clients spread as far afield as Australia and Canada.
Ryder, which also has offices in London, Glasgow, Liverpool, Manchester, Bristol, Vancouver and Hong Kong, has made the move to become an Employee Ownership Trust (EOT), as of May 1, after marking 70 years of trading.
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The practice, which has around 350 employees, was previously owned by 13 shareholders who were partners at the practice. Aside from Peter Barker who is retiring, the former partners remain an integral part of the leadership team and, alongside other senior colleagues in the business, are now titled ‘principals’.
Mark Thompson, managing director at Ryder, said: “Having recently celebrated our 70th anniversary, this is an exciting and positive step in Ryder’s journey. By becoming an EOT, we are securing the future of the company and importantly maintaining all the elements that have made us so successful to date – our strong culture and identity, our reputation for excellence, and an unwavering commitment to develop, retain and reward our people who are at the very heart of our business.”
Mr Thompson and the current leadership team will continue to drive strategy and business decisions, while a small board of trustees, including Ryder colleagues and independent advisors, has been set up to represent the trust and provide oversight on behalf of everyone at Ryder.
The board includes the chair of Ryder360, Ryder’s people board which was first established in 2001 to integrate the company’s approach to personal development, wellbeing, community impact and to deliver the best for its people. It includes representatives at all levels, from teams right across the business.
Fran Harrison, current chair of the Ryder360 Board and a trustee on the newly formed EOT Board, said: “All of us now have an even greater stake in the success of the company, which is both motivating and rewarding.
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“We see excellent levels of engagement across Ryder, evidenced through the results of our annual Best Companies To Work For survey, but this change in ownership will help to foster an even stronger culture of shared success and collaboration. It’s an exciting evolution of the business.”
Several people have also been promoted to the role of principal, including Amanda Whittington and David McMahon leading teams in London, Martin Kendall in Bristol and David Stabler, Graham Kelly and Grant Sellars in Newcastle.
Mr McMahon said: “The transition to an EOT represents the next steps in the evolution of Ryder, which is now owned on behalf of all employees, and we will all benefit from its success. This move underpins our commitment to our biggest asset, our people, whilst creating the optimum environment for the future success of the company. This approach will provide our clients with the continued expertise Ryder offers and reinforce our commitment to design and the communities within which we work.”
Financial and legal advice to support the transition was provided by UNW and Womble Bond Dickinson. Chris Wilson, partner and head of corporate finance at UNW LLP, said: “We are delighted to have worked with Ryder and its shareholders to review the strategic options open to them, and to have subsequently advised on the design and implementation of the EOT, which will support the further success of the business.”
Robert Phillips, partner at Womble Bond Dickinson (海角视频) LLP, added: “Ryder is one of north east England’s most successful service businesses. It has been a delight to work alongside Mark and his team for many years and to see the development of the company, and its profile and success, on a regional, national and international basis.
“Service businesses are fundamentally about the people that make them up, and so it is fantastic to see that Mark and his shareholder team have chosen to develop as an EOT. With our specialisation in EOT projects, it was great to align our expertise in supporting Ryder through the process. I wish everyone at Ryder all the best in the future.”