Today is ‘EO Day’ and the Employee Ownership Association has been encouraging its members to tell their story. So, here’s ours…
Interaction’s owners and founders, who had started the company in 1995, started working part-time as they took up other interests.
We started talking about a possible management buy-out by the permanent employees, and came across the concept of Employee Ownership; we liked it - it made the purchase more affordable and offered a sustainable solution for the business into the future, and we joined the EOA.
We engaged Baxendale who ably helped to steer us all, owners and employees, through the process of becoming Employee Owned.
In September 2015 the deal was done and ownership of the business passed from the founders to the employees; we currently have a hybrid scheme, with the majority of shares being held in trust, and a small percentage currently owned directly by the employees who were here when the story started in 2007.
We paid our first profit-share as an Employee Owned company, and have paid one each year since.