On Wednesday 1st March 2017 TensCare Ltd transitioned to become an Employee Owned Business with the majority of shares being held for the benefit of all TensCare Ltd employees in a Trust.
The new Managing Director: Neil Wright who orchestrated the change of ownership with the help of private equity and legal advice from Postlethwaite solicitors (Specialists in Employee Ownership affairs) said; ‘This is a significant milestone in TensCare’s journey as a business. The new ownership structure is a positive alternative to more traditional ownership models and offers real advantages to both the employees and the prosperity of the business.’
Employee owned businesses in the UK contribute over £30 Billion to the UK economy every year so it is based on strong commercial success. John Lewis perhaps being the best known Employee Owned business in the UK.
Charlotte Smith who has been the Accounts Manager for 9 years with TensCare and is now the newly appointed Finance Director said: ‘It is a very exciting time for all our team, there are real gains to be made to creating a cultural norm of transparency of how the business is performing and recognising the voice of engaged employee representation within the business.’’
Lisa Slavova who had previously been TensCare Ltd’s Export Manager has been appointed to Sales Director.
The leadership of TensCare Ltd will be by a dynamic commercial executive board who will meet the needs of our customers and as in any business be answerable to the owners.
To know more about the TensCare team and Employee Ownership click here