Engineering firm embraces employee ownership

An engineering consultancy has transferred ownership to its employees.

Brough-headquartered Jesmond Engineering, which tackles complex engineering challenges for safety-critical sectors, has moved to an employee ownership trust (EOT) model, with Patrick Kelly being elected employee representative as part of the transition.

Founded in 2004, Jesmond provides engineering and software services to clients across the UK and internationally. 

The consultancy has an established presence in aerospace and is expanding its work in biotechnology, chemicals and renewable energy.

Founder Simon Walker said: “From day one, nearly 21 years ago, we have been a highly motivated and dedicated team, so the democratic EOT model is ideal as it bolsters and rewards the commitment shown by all. 

“All staff are now participants in a structure that helps to secure the future of the company of which we are proud.”

Patrick added: “Jesmond supports clients to innovate through our breadth of industry experience and diverse engineering skills.

“Our teamwork has been vital to the successful outcome of client projects, and we all believe that the EOT structure will build on this, as well as giving us all the opportunity to benefit from Jesmond’s success.”

The move to employee ownership follows a growing trend in the UK, with around 2250 companies now using EOTs to support succession planning, employee engagement and long-term business performance. 

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