Fri, 24 Jan 2025 | BUSINESS SALE
Facilities management firm Atlas FM has transitioned to employee ownership. It means the group, which has been in business since 1986, will now be owned by its employees through an Employee Ownership Trust (EOT).
The milestone means that Atlas, which in 2023 had an average monthly number of employees totalling just over 11,500, becomes the first company in its industry to make the move to employee ownership.
Atlas FM was founded in 1986 as a small specialist cleaning provider by Nick Earley and Ray Empson. The company provides its services such as cleaning, security, pest control and grounds maintenance to clients including the Royal British Legion, Shawbrook Bank and Balfour Beatty.
According to its most recent annual results for the year ended 31 December 2023, Atlas FM posted a turnover of £230 million, up from £188 million the previous year. Pre-tax profit came in at £9 million, down from £12 million.
Atlas said that the move to an EOT aligns seamlessly with its purpose which it describes as "creating happiness for ourselves and others".
It added: "By placing full ownership in the hands of our people, we are fostering a culture of shared success, accountability, and empowerment. This change will not only enhance employee engagement but also deliver greater stability, innovation, and service excellence for clients."
Atlas said it explored several sale options but chose the EOT route to best protect its values, safeguard its independence, and reward its staff.
Chris Wisely, CEO of Atlas, who joined the company in 2017, said: "Transitioning to 100% employee ownership is a proud and defining moment for Atlas. This move gives every employee a real stake in our success. It strengthens our culture, drives innovation, and deepens our commitment to delivering exceptional service for our clients. We're thrilled to lead the way in our industry."
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