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A team from Fieldfisher has advised architecture practice Stride Treglown on its adoption of the employee-ownership business model.
Stride Treglown is the 10th largest architectural practice in the UK with 280 staff in nine offices throughout the UK and the UAE, all of whom now own a part of the company. In the course of its 60 year history, Stride Treglown has worked on award-winning projects such as the regeneration of former Cornish mining area Heartlands, the transformation of the 1930s-built Wiltshire County Hall, and the design of Watergate Bay Hotel in Newquay.
The Fieldfisher team was led by Partner Graeme Nuttall OBE, who authored the 2012 "Nuttall Review of Employee Ownership". The rest of the team included Partner Neil Palmer and Senior Associate Jennifer Martin.
Graeme Nuttall OBE commented:
“Stride Treglown was an interesting project. Working with an established organisation to help them with the transition to an employee-ownership model can present challenges. Culturally, Stride Treglown was perfect for this structure and their employee-ownership model will bring many benefits to both staff and clients for years to come.”
Chairman David Hunter said:
“The culture of our practice has always been collaborative, so employee ownership was a logical step for us to take. The transformation from a traditional architectural partnership into a 280-strong employee-owned company is momentous but exciting. 2015 is already looking like it’s going to be busy for us - not least because Bristol, home city of our head office and historic base of the practice, is European Green Capital City this year. As well as this, with every member of our staff now having a commitment and share in the company’s future, we are really looking forward to another 60 years of exceptional work for our clients.”
Iain Hasdell, Chief Executive of the Employee Ownership Association added:
“There is a definite move towards employee owned businesses. The facts speak for themselves, organisations adopting this model achieve greater productivity and innovation. In addition, we have seen that there is also the added advantage of greater resilience to economic turbulence. I am delighted that Stride Treglown has chosen to take this step. As I have been saying for a long time now, this really is the decade of employee ownership. Employee ownership is a movement for change. For a better way of doing business.”