In a move that demonstrates genuine belief in rewarding loyal staff, manufacturing and engineering business, British Rema, has transferred ownership of its group of companies into the newly-formed British Rema Employee Ownership Trust. Sole beneficiaries of this trust are current and future employees of the company.
Established in 1927, British Rema has a long heritage and deep roots in the Sheffield and Chesterfield areas and was originally spun out of the Sheffield steel maker and engineering group, Edgar Allen, in the early 1980s. The company has subsequently developed into a successful group of niche businesses supplying products and technical services on a global basis to many growing industrial sectors such as aerospace, building products, fine chemicals and fertilizers.
The business relies heavily on the commitment and specialist skills and knowhow of its staff. In 2019 financial advisors Grant Thornton introduced the idea of forming an Employee Ownership Trust (EOT) as the best way to build on the company’s success and enable a succession plan for the owners, whilst maintaining continuity in the management team. The directors agreed, recognising the additional benefits in terms of staff engagement, recruitment and retention. While the implementation of the plan was delayed by the Covid pandemic, the directors are now extremely pleased to have completed the deal and are looking forward to a new era for this long-standing business. 
John Cameron has been a director of the business since 2005 and believes that the change from a privately owned company to an EOT demonstrates the company’s commitment to the region and the associated long-term employment opportunities:
“British Rema intends to stay put and grow from its current base. The new ownership structure makes it an attractive option for new staff and highly motivational for existing staff. We have also announced the introduction of a profit-related bonus scheme which will see staff immediately share in the company’s financial success.”
British Rema Processing is one of three specialist divisions that make up the group. Its General Manager, Mark Sale, agrees that, as a result of having a greater stake in the business, the EOT structure will drive staff engagement and employee satisfaction, which will, in turn, help to drive success:
“If we are able to harness the potential in all three British Rema businesses then the experience of the British Rema Employee Ownership Trust should be a positive one for staff and customers. The employees who make our success possible will be able to share more fully in the benefits and, in turn, play their part in securing the prospects of the business for the future.”
Monique Beaulieu, Partner and Head of Employee Buyouts at Grant Thornton added: “We are proud to have supported British Rema in the next phase of its growth journey and we look forward to its continued success. The EOT will enable British Rema to transition to employee ownership and will enable the business to build on their positive future by rewarding and involving their loyal and skilled employees”
