BFY Group becomes an employee-owned consulting business
Nottingham-based management consultancy firm BFY Group has transitioned from a partner-owned business to an Employee Ownership Trust – providing all its 45 employees with a stake in the business.
Established in 2004, BFY Group is a advisory firm dedicated to the energy and utilities sectors, specialising in change and transformation services in the commercial and back-office departments of its clients.
By now becoming employee-owned, the consulting firm is underscoring its longstanding belief that its people are its core asset. “We’ve always believed our strength comes from our people, and this structure puts them at the heart of our future. It allows us to stay true to our culture, grow sustainably, and continue delivering the exceptional work our clients value us for,” said Ian Barker, Managing Partner of BFY Group.
Establishing an Employee Ownership Trust is a popular method for securing employee ownership, mainly due to its attractiveness from a tax perspective and because it based on an indirect ownership model. While employees own the shares, the shares are held for them by the Trust, which pursues goals for the collective benefit of the company and all employees.
“The transition to an Employee Ownership Trust offers our employees an even stronger voice in the direction and decisions that shape the company’s future,” said Barker. “At the same time, it helps build commitment to a future that is both sustainable and rewarding for our people, allowing us to achieve the best outcomes for our clients and employees.”
Rachel Littlewood, Director and Trustee on the Employee Ownership Trust board, added: “This transition gives everyone a meaningful stake in the future of the business, and we’re committed to making sure our people remain at the heart of the decisions we make.”
Earlier this year, BFY Group was named one of the UK’s leading consulting firms by both the Financial Times and Consultancy.uk. In 2024, the firm featured in several fastest-growth rankings, including the Sunday Times Fast Track 100 publication.
