Paul Clark Accountants, which was set up by Paul Clark in 1993 and became a limited company in 2009, has been handed over to its workers by its founders and owners, with shares transferred into an employee ownership trust (EOT).
Paul Clark will remain as managing director and the existing senior management structure has been bolstered with the appointment of long serving members of staff, Kevin Beale and Rhys Davies, as directors.
“We took the decision to transfer ownership of the company primarily to strengthen the team and reward our employees for all their hard work and contributions” said Paul and Judith Clark. “We are grateful for the support and professional advice given to us by Christian Wilson of Stephens Scown LLP and Simon Blake at Price Bailey LLP in our transition to employee ownership.”
Deb Oxley Chief Executive of the EOA said: “We congratulate Paul Clark Accountants on its move to employee ownership – sustaining its values, customer focus and independence for the longer term.
Businesses that give employees a stake and a say build trust and shared responsibility, therefore uniting leaders and employees behind a common purpose. This leaves the business in a better position to flex and adapt – key qualities needed to help the UK Build Back Better.”