Projects consultancy CPC transfers to employee ownership

09 May 2024 2 min. read
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CPC Project Services has converted to employee ownership, as it looks to commence a new era of growth. CEO Steve Mole will continue to head up the firm, while staff will have a greater stake in how the company is run.

Employee ownership trusts (EOTs) grant employees effective ownership of the company, potentially motivating employees to drive further growth, as they hold a stake in the long-term success of the company and stand to benefit from any future dividends. EOTs are also the fastest growing form of business ownership in the UK. According to the Employee Ownership Association, the total number of employee owned businesses in the UK is now just under 2,000, while 332 businesses transitioned to employee ownership in the 2022 calendar year alone. As of June 2023 the total number of companies owned partially or fully by their employees had also grown by 37% in just 12 months.

The latest firm to shift into being an EOT is CPC Project Services. Over the past year, the shareholders of CPC have considered a number of options regarding the future ownership of the business and how best to prepare for its next stage of growth – but eventually they concluded that enabling staff to share in the future success of the business, as well as having a greater say in how it is run, was the right path forward.

Projects consultancy CPC transfers to employee ownership

Steve Mole, CEO of CPC Project Services, said, “I am thrilled to be able to announce CPC’s transition to an Employee Ownership Trust. We’ve been working for many months to ensure that this change in business structure is in the best interests of our employees and clients, as well as cementing CPC’s long-term strategic commitment to remain an independent and agile project and cost management consultancy.”

Launched 34 years ago, CPC employs over 320 highly skilled project management and consultancy professionals. Headquartered in London, it also has offices in Manchester, Liverpool, Leeds, Stoke, Oxford, Glasgow and Dublin.

Its recent projects include Transport for London’s £5.4 billion Four Lines Signalling Modernisation Programme; Guinness Partnership’s Points Cross Housing Regeneration Programme in Leeds; and Network Rail’s National Fleet Transition Programme for EV vehicle charging infrastructure.

Looking ahead, Mole will continue to lead CPC, alongside the current board of partners. The Board is, and will remain, responsible for managing the day-to-day operations and business interests of CPC. But the EOT will be governed by a board of trustees, who will be responsible for ensuring the success of the trust for the benefit of CPC’s employees.