Estama creates employee ownership trust
Commercial property and asset management firm Estama UK has announced its transition to employee ownership trust (EOT) status.
It becomes one of the first companies in the industry to adopt the initiative, which sees ownership of the business transferred into the hands of its employees.
Estama says its transition to a EOT marks a significant milestone in the business’s development and underpins its values of teamwork, innovation, and long-term sustainability.
ESTAMA Managing Director Eoin Conway said: “I’m delighted to announce our transition to an Employee Ownership Trust.
“Shared ownership aligns our long-term interests with those of our dedicated team, ensuring a sustainable future and stability for our clients and colleagues alike.
“Success is a collective effort, and together, as co-owners, we’re excited to move forward with a renewed sense of purpose towards ever greater achievements.”
Eoin added that ESTAMA UK will remain committed to its core values established by founders David Roberts and Tony Quayle.
“While we will continue our strong relationship with David, Tony, and Edinburgh House, we are also keen to exploit our breadth of knowledge and experience in the real estate industry, to enhance our relationships with existing and future clients, as evidenced by a number of our recent instructions for both property, and asset management,” he added.
David Roberts added: “Over the years the independence of the business, its core values, investment in its employees and its reputation, have been critical to its success.
“For this reason, rather than looking for a third-party buyer, we have been exploring alternative ownership models as a way of ensuring it can retain its independence, culture, and values, and empower those already working within the business to lead it.
“Employee ownership incentivises and rewards all the employees of the Group, many of whom have played a key role in ESTAMA UK’s success and gives them the chance to drive the future growth and development of the business.”
As part of the transition, Ross Campbell, head of UK investment and transactions, Mansing Awotar, head of finance, and George Grimes, head of property management, have all been promoted to directors and joined the company board.
George Grimes said: “We are delighted to join the board of directors and excited at the prospect of working together with our fellow employees to ensure ESTAMA UK’s continued growth and success.”