Emanuel Whittaker has announced its transition to an employee ownership trust (EOT) after 188 years in business.
Since 1837, the Oldham-based firm has delivered significant projects across Greater Manchester, from social housing to regeneration schemes.
EOTs are an initiative launched by the government in 2014, under which a company’s employees own, or have the right to own, shares.
EOTs do not involve direct share ownership by employees. Instead, a controlling interest in the company is transferred to an all-employee trust, which is then held for the benefit of employees.
Clive Newton, managing director at Emanuel Whittaker, said: “This firm has always been about people and place. We’ve trained generations, supported subcontractors and suppliers and built real trust in our communities.
“Moving to employee ownership means those values don’t get lost. It’s about giving something back and making sure the legacy lives on in the right hands. After nearly 60 years with Emanuel Whittaker, I couldn’t face seeing the company sold off to someone who might close the doors, absorb it into something unrecognisable or redevelop the site.”
The transition, supported by accountant Xeinadin, aims to provide long-term financial security while giving employees a greater stake in the company’s future.
Emanuel Whittaker’s trust will be overseen by an independent chair, with employee trustees contributing to decision-making.
