A RECRUITMENT company has announced it has become an employee-owned business.

GPW Recruitment, registered company name GPW Design Services Limited, has transitioned to become an employee-owned firm.

This means it is now majority owned by an employee ownership trust (EOT).

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Founded in St Helens more than 45 years ago, GPW provides recruitment services over multiple sectors including manufacturing, engineering, Energy and construction.

With a turnover of approximately £20m and 40 staff, the North Road-based business supplies both temporary and permanent recruitment solutions throughout the UK and Europe.

Chairman Graham Worsley, who joined the company in 1989, with wife Carole made the decision to transfer the majority of the shareholding.

Staff now own 74 per cent of the business through the Trust, which enables the company to be employee-owned without individual employees having to personally invest in shares.

GPW says the decision was driven by the desire to sustain the company’s independence and values, while recognising the efforts of its employees and their contribution to the firm's considerable success.

Graham Worsley said: “Transitioning to an employee-owned company is part of our internal commitment for future development, preserving our company values, which will enable our employees to share in the success that we’ve built and feel invested in our continued growth.

"Traditional mergers and acquisitions always carry with them a disruption and uncertainty about what will happen to the Company culture and its employees post-acquisition.

"The EOT offers a business model that recognises and rewards all staff whilst providing continuity for clients, suppliers and employees, and crucially, can be an important tool for attracting and retaining talent.”

Gary Ward, GPW’s operations director, added: “This is a tremendous opportunity for all members of the team to have a real financial interest in the business and to have a say in its future development. We are all really excited about the future potential this will have on the further growth of GPW within the recruitment industry.”

GPW made the transition to employee ownership under the guidance of its legal team at Knights plc's Manchester office. GPW also expressed appreciation for the backing of its bankers, RBS Invoice Finance Limited (through relationship manager Chris Miller), which was instrumental in enabling the company to proceed with the transaction.

Anyone who wants to keep up to date with GPW’s latest vacancies or needs help filling a vacancy can visit: gpwrecruitment.co.uk or call 01744 454 300.