Tue, 15 Oct 2024 | BUSINESS SALE
Cwmbran-based Gwasg Pia has transitioned to employee ownership. The Welsh firm, which was founded as a cooperative in 1985, will now be owned by its 45 employees through an Employee Ownership Trust (EOT).
The company was initially set up as a typesetting business designing and producing printing plates but it pivoted after winning a big contract to publish a braille handbook, called In Touch, for a BBC Radio 4 programme. It became a limited company in 1982 and developed Braille Maker, which is the UK’s leading braille translation software. It also has a small braille bureau, translating and producing braille documents.
Its work includes producing braille menus for Pizza Hut, brochures for theatres and concert halls and ciphers for puzzles subscription box group Red Herring Games.
Managing director Sharon Williams, who joined Gwasg Pia in 1999 as a 'general dogsbody' in the office and became solo owner in 2017 will remain with the business.
She said that an EOT was the best option for the firm because as a ‘very niche business’ and with few competitors in its marketplace a trade sale would have been difficult.
“We’re very proud of our core values around leading by example and contributing to society, and so if we were to be bought out by another print company, I also couldn’t be sure these values would continue,” she said. “Employee ownership for Pia as a business has always been a long-term ambition of mine, but I didn’t want to have to make that decision and make the changes at crisis point, when I wanted to retire. I can now remain and ensure our management team and staff are fully on board with the new structure.”
Darwin Gray provided legal advice to Gwasg Pia on its EOT transition, and the business was also supported throughout the process by the Employee Ownership team at Welsh Development Agency Cwmpas.
Find out more about the growth of EOTs in our recent dedicated insight on Employee Ownership Trusts in the UK
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