Architect draws up ‘exciting’ EOT future

A Newcastle-headquartered architecture practice has transitioned to employee ownership as it looks to secure long-term stability and growth.

Ryder Architecture has become an Employee Ownership Trust (EOT) as of May 1, with a newly formed board of trustees now representing 350 staff across its UK and international teams.

Previously owned by 13 partners, the firm’s former shareholders remain in senior roles as principals, alongside newly promoted leaders in London, Bristol and Newcastle.

They say the move to an EOT will “secure the future of the company” by strengthening Ryder’s collaborative culture and long-term vision.

Mark Thompson, managing director at Ryder, said: “Having recently celebrated our 70th anniversary, this is an exciting and positive step in Ryder’s journey.

“By becoming an EOT, we are securing the future of the company and importantly maintaining all the elements that have made us so successful to date – our strong culture and identity, our reputation for excellence, and an unwavering commitment to develop, retain and reward our people who are at the very heart of our business.”

Fran Harrison, current chair of the Ryder360 Board and a trustee on the newly formed EOT Board, added: “All of us now have an even greater stake in the success of the company, which is both motivating and rewarding. 

“We see excellent levels of engagement across Ryder, evidenced through the results of our annual Best Companies To Work For survey, but this change in ownership will help to foster an even stronger culture of shared success and collaboration. 

“It’s an exciting evolution of the business.”

Financial and legal advice to support Ryder’s transition to an EOT was provided by UNW and Womble Bond Dickinson. 

Robert Phillips, partner at Womble Bond Dickinson (UK) LLP, added: “Ryder is one of North East England's most successful service businesses. 

“It has been a delight to work alongside Mark and his team for many years and to see the development of the company, and its profile and success, on a regional, national and international basis.    

“Service businesses are fundamentally about the people that make them up, and so it is fantastic to see that Mark and his shareholder team have chosen to develop as an EOT. 

“With our specialisation in EOT projects, it was great to align our expertise in supporting Ryder through the process.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →