Sheffield Roofing Firm Sold to Employee Trust

A SHEFFIELD-BASED roofing company which employs 60 staff has looked to the succession of the business with the introduction of an Employee Ownership Trust (EOT).

The move sees Martin-Brooks Roofing Specialists Ltd’s founders Gerald Brooks, Jeremy Martin and John Elmore transfer ownership to staff. The company says this new model will “secure the company’s future, maintain independence, reward staff and reflect the ethos of the business”.

The new Board of Trustees will be comprised of Chairman John Elmore, Richard Christian and Justin Moyse.

Co-founder Jeremy Martin said: “Martin-Brooks started life with just two employees and now has more than 60.

“The switch strengthens our talented team’s commitment, safeguards our long-standing values and secures the company’s legacy. Our firm has always been firmly rooted within the community. It benefits from an engaged and committed local workforce.”

Future Employee Security

Founders Gerald Brooks, Jeremy Martin and John Elmore will continue to be involved with Martin-Brooks whilst they will step back from the day-to-day running of the business, their positions on the Board of Directors will remain, and they will continue to play an advisory role in the management of the business.

Jeremy added: “The strong management team here will ensure that the business can continue to drive forwards with the key values of independence, community and teamwork whilst retaining, building upon, and further developing the principles the business has held for 40 years.

“Becoming employee-owned gives our amazing team here a genuine say in the business and the brilliant service we deliver to our clients.”

Legal work for the EOT was provided by Tom Haywood (Corporate), Eleanor Storey and Christie Smith (Commercial Property) at Wake Smith Solicitors.

Senior Associate Solicitor Tom Haywood said: “We are delighted to support Martin-Brooks to become an EOT.  The firm is a well-established provider in its market and enjoys a reputation across Yorkshire and beyond for its commitment to craftsmanship.

“Employee ownership is not a barrier to growth or success, with many regularly outperforming their independently owned peers in revenue growth, profits, job creation and productivity. We are excited to see how it will progress under the new structure.”

Tax, accountancy and corporate finance advice was provided by Nicola Edwards of UHY Hacker Young.

Martin-Brooks’ domestic division remains core to its business across Sheffield and the surrounding areas, which carries out projects of any size, from a single repair to complete re-roofs.

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