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Move to employee ownership ensure long-term future for growing agency at the heart of the technology industry.
Napier, a leading B2B technology marketing and PR firm with offices in the UK and USA, today announced it has become an employee-owned business. An Employee Ownership Trust (EOT) has acquired 70% of the shares in the company, making employees the majority shareholder. Becoming employee-owned ensures that Napier can remain independent, preserving the culture of the agency and providing clients that the agency is committed to the long term.
“Employee ownership is rapidly becoming the best way to secure the future of independent companies, particularly those in professional services, such as marketing agencies.” commented Mike Maynard, CEO and Managing Director of Napier. “I’m excited about continuing as managing director, and look forward to watching the company grow helped by the many benefits of employee ownership for the Napier team and our clients.”
The trust structure used in this deal means that employees now own a controlling stake in the business without any cost to themselves, and with no need to borrow from third parties such as banks.