UK power renter becomes employee owned

Photo: Power Electrics

Temporary power solutions Power Electrics has announced that it has transitioned from a privately owned company to an Employee Ownership Trust (EOT).

The move means that the company, which is based in the UK and provides generator hire, will now be fully owned by its employees through the EOT structure. 

The company said the move marks a significant milestone in its long-standing commitment to people, customers and suppliers and positions it for continued success and growth while safeguarding its core values, brand reputation and culture..

Andy Pullin, Power Electrics’ CEO, said, “Our employees have always been the driving force behind Power Electrics’ success. By becoming an employee-owned business, we are creating a more secure future for everyone in the company. This step not only rewards the dedication of our employees but also inspires greater innovation and commitment moving forward.”

According to Power Electrics, its customers will continue to receive the same service, while the shift to employee ownership enhances its ability to meet and exceed customer expectations. 

It added that the decision to transfer ownership to an Employee Ownership Trust reflects its long-term vision of “growth, sustainability and innovation.” It said it  guarantees continuity as the same leadership team will oversee operations and will empower employees to play an active role in shaping the business’s future.

The shareholders of Power Electrics were advised on the transition to employee ownership by Osborne Clarke LLP and KPMG Corporate Finance

Michael Carter of Osborne Clarke LLP, added, “We were delighted to be part of helping Power Electrics move to become owned by the EOT and secure the future for all stakeholders in Power Electrics.”