Friday 1st October marked a new beginning for national property consultancy, Aitchison Raffety, which has now become an Employee-Owned Business (EOB) following a recent employee buyout. The buyout marks the latest step in Aitchison Raffety’s national expansion for its commercial property business.
Aitchison Raffety was established in 1997 as a small practice and has grown into the successful organisation it is today. An EOB is the most natural progression for the company which looks to keep its employees front and centre of its future. The move will help develop a sustainable culture, with independence that provides greater security for its future.
The company pays tribute to the entrepreneurial spirit of its employees (now referred to as co-owners) over the last few difficult years.
A fundamental part of the EOB is the Aitchison Raffety Employee Ownership Trust (EOT) whose four trustees will be responsible for ensuring decisions that are made by the company are in the best interest of the employees or co-owners. Two of the trustees are company employees selected democratically.
Aitchison Raffety’s Executive Board – which now reports to the EOT – and its Management Board will remain responsible for the strategy and operation of the business.
Philip Waite, Managing Director at Aitchison Raffety commented “This is an exciting time for Aitchison Raffety and it’s co-owners who are now embracing a new beginning. Through the new Employee Ownership structure, we are certain that we can build on the respect we have gained over the years and develop the business even further into a successful national consultancy, trusted by our clients, and a great place to work”.
David Goodchild, former Chairman at Aitchison Raffety commented “Employee Ownership is a logical next step as well as a due reward for all stakeholder’s hard work and commitment overcoming the economic challenges of recent times, which ensured survival and a willingness to thrive.” David becomes a Trustee of the EOT.