Gwasg Pia, one of the UK’s leading independent accessible format providers, has transitioned into employee ownership (EO), nearly 40 years after it was founded as a cooperative in 1985.
Set up as a typesetting business designing and producing printing plates, the company changed direction after winning a major contract to publish a braille handbook for a BBC Radio 4 programme. It then expanded to become a limited company in 1992, developing Braille Maker, the UK’s leading braille translation software.
Sharon Williams joined the Cwmbran company in 1999 without an official job title, but as general help around the office, swiftly progressing within the business to become Managing Director in 2004 and taking over as solo owner in 2017.
Sharon has now decided that securing the company’s future lies in it returning to its roots in the cooperative movement, to become employee owned. At 53, and with no plans to leave the business, she is keen to ensure the transition into employee ownership is properly cemented before looking to reduce her working hours or towards retirement – which she doesn’t foresee happening for many years to come.
Sharon 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 feel the time is right now for us to make the move to employee ownership, so I can remain as managing director and let the new business model bed in properly, ensuring our management team and 45 staff members are fully on board with the new structure.
“We are a very niche business, we don’t have many competitors in this market so a trade sale would have been virtually impossible, something I realised at an early stage. 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.
“An employee trust embodies everything we already live and breathe here at Pia and is a nice way to get back to the roots of the business, which started as a cooperative in the mid-eighties. It’s the perfect solution for all.
“The EOT is a progressive business model for us, rather than an exit plan for me personally. I want to thank Cwmpas for all the support with the transition too, from the start of the process to completing it – it has been seamless.”
One of Gwag Pia’s employees, braille transcriber Craig Morgan, said of the move into EO:
“It’s brilliant that Pia is now an Employee Owned Trust. This means we all get a piece of the action and can really feel like we’re part of something special. With everyone pulling in the same direction, we can share in the success and have a say in how things are run. This change is great for our future and makes Pia an even better place to work. Here’s to a bright and exciting future for all of us.”
Darwin Gray provided legal advice to Gwasg Pia on its EOT transition, and the business was also supported throughout the process by the EO team at Cwmpas.
Siobhan Williams, Senior Associate, Darwin Gray LLP, said:
“It was a pleasure working with Sharon and the team at Pia as they transitioned to an employee-ownership model. Their ambitions and position in the market meant that an EOT was the perfect solution, helping to preserve the company’s future in the hands of their best assets. We are delighted to have been involved and look forward to seeing what the future holds for them.”
The Employee Ownership Wales service from Cwmpas is part of Social Business Wales and of the Business Wales family, both funded by Welsh Government.
Branwen Ellis, specialist EO Consultant for Cwmpas, said:
“It has been great to work with Pia on transition into EO. Sharon’s vision for the company and determination to ensure the new business model is fully embedded to help secure its future is admirable.
“It’s also wonderful to see Pia Press return to its cooperative roots and ensure that the ethos and values of the business are secured with an employee ownership trust too. Pia is a very unique business and so EO was a perfect fit for its succession planning.”
For more information about employee ownership, visit: https://employeeownershipwales.co.uk/.
