Employee ownership

Normally, the founder of a business gets to 50 or 60 years old and begins to think what next? Often that business is then sold to a consolidator, a nameless corporation or a venture capitalist, with no thought of the impact on the important people in the business: the employees and the clients.

We wanted to prove that business can be a force for good and that people can manage themselves.

Our founder Chris Budd wanted to prove that doing the right thing is more important than the most profitable thing. So, in March 2018, the majority of Ovation’s shares were sold to an Employee Ownership Trust for the benefit of all the employees.

The shares are now split;

  • Ovation Employee Ownership Trust – 70%
  • Chris Budd – 25%
  • Susie Budd – 5%

That means:

  • Ovation is here to stay, which means you won’t find another name above the door.
  • The EOT owns the majority shares of Ovation and the beneficiaries are all the employees. Our team benefits from the success of the business; we have a vested interest in keeping our clients happy.
  • We have a strong social conscience and value doing what’s right over what’s profitable.
  • We can recruit and retain the best people.
  • Through the EOT, all employees have a controlling interest and participate in the ownership of the business. Everyone has a say in the direction the business takes, which means we are always striving to develop and improve our service.

To ensure the success of the Ovation EOT we have a team of three Trustees who, amongst other points, test Board decisions against the Ovation Flag, the values and the strategy.​ Along with supporting the encouragement of behaviours that promote a culture of business ownership in every member of the team

The current EOT Trustees are:

Mike Bevens – Independent Trustee

Helps Trustees hold the Ovation board to account, ensuring business decisions are in the best interests of the employees

Charlotte Raynes – Non-Exec Director

A trustee on the Ovation board who creates a link between the two groups for better understanding

Tammy Devonald – Employee Trustee

Creates a link between the Ovation team and the trustees to help understand employee wishes in decision making.

Contact us