Evolution signposts move towards employee ownership

Posted to News on Wednesday, April 13, 2022 Share:

INTEGRATED FIRE and security systems business Evolution has announced details of a new Employee Ownership Trust (EOT), which will see its staff become majority owners of the business. The company is believed to be the first of the major independent security systems integrators to implement an EOT scheme to secure its long-term growth aspirations.

Having celebrated its 25th Anniversary in 2021, Evolution has set up the EOT for the future benefit of all employees. In keeping with similar schemes, the Trust is effectively acquiring 77% of the company, which will be paid for by ongoing company profits until such time that the agreed purchase price is met. At that point, every EOT member will then share in the profits for as long as they are part of the business.

Current owners and founders Richard Lambert and John Wust will retain 23% of the company to ensure management continuity and demonstrate their ongoing commitment to employees and customers alike.

“Our wish has always been to create an environment wherein everyone can grow and be a part of the success of Evolution and the EOT does exactly that,” stated Lambert. “John and I are extremely excited about the future, as we all join together as partners in our ever-evolving business.”

Benefits for staff

Louise Gough, Group director of HR and part of Evolution’s senior leadership team, believes the EOT provides a number of key benefits for staff. “Through our recruitment and people strategies, comprehensive training and development opportunities and benefits programme,” asserted Gough, “Evolution remains totally committed to taking care of its members of staff and providing them with a great place to work.”

Brendan McGarrity, director of Evolution Risk and Design and the new EOT, added: “The EOT affords each and every employee a stable, long-term future, as well as providing all staff with the opportunity to become beneficiaries of the business’ future successes.”

Founded back in 1996, Evolution has continued to grow and expand as a business, recently reporting a turnover of £30 million and currently employing more than 200 people across six offices in the UK, Ireland and Europe.

As part of its core business, Evolution delivers professional services consultancy and expertise in risk and design for major defence and critical infrastructure-focused projects.