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European law firm Fieldfisher has advised PriestmanGoode, the leading design consultancy, on its move to employee ownership, with the business now majority owned by an Employee Trust.
PriestmanGoode is a leading design studio for the aviation and transport sectors, acting as brand and innovation partner to a number of leading companies around the world.
Graeme Nuttall OBE, former government adviser on the subject of employee ownership and author of its independent review, led the Fieldfisher team. He said: "The Employee Ownership Trust has the potential to become the standard UK ownership model for established professional consultancies. Employee ownership means the contribution of all employees in maintaining and growing a business is recognised, as well as the roles of key individuals.
"I was very impressed by how quickly and decisively PriestmanGoode has made the transition to employee ownership, and the UK government has shown similar speed in offering decisive support, approving the company's move in record time. This is testament to the momentum behind the growth of employee ownership in the UK, in all its forms and especially the Employee Ownership Trust model."
Paul Priestman, designer and chairman of PriestmanGoode, said: "Over the last three decades we have steadily grown from a small product design consultancy into one of the world's leading aviation and transport design companies. Whilst the other directors and myself are remaining at the helm of the studio, we wanted to put things in place to ensure the legacy of the company we have built."
Graeme Nuttall was supported by Jennifer Martin.