Excellence IT, a managed service provider, has transitioned into employee ownership.
The company, which provides IT support to SMEs, was founded in 2002 by Andrew Beer and Andy Green after they worked together at Hewlett Packard in Bristol.
Since then, the business has grown to a staff of 20 from its base in Pontygwindy Road, Caerphilly, and works with Welsh businesses such as Halo Foods, Edwards Coaches and Cwmpas by supporting their IT services.
Co-founder Andrew Beer said: “Andy and I now feel that it’s time to pass the baton of our company to the younger generation within the business and for us, after examining all the other options, we felt that an employee ownership trust (EOT) business model was the best move for us.”
Excellence IT is one of the first managed service providers in Wales to transition to an EOT in recent years.
The founders are still going to be involved in the company, with a view of stepping back over the next few years.
Mr Beer added: “There are no plans to take our foot off the gas just yet, we want to ensure that this transition into employee ownership works for all and secures the future of the business.
“That is our priority right now.”
Their transition was supported by various organisations including Darwin Grey, Berry Smith, Azets, and Cwmpas.
Branwen Ellis, specialist EO consultant for Cwmpas, said: “It was great to work with the team on their transition into employee ownership in Wales.
“Andrew and Andy had a clear vision for the future of the business, that included them in the medium term, but with the view that to secure Excellence IT’s future, as well as that of its employees, it had to make provision for its future management and ownership.
“That’s exactly what they have done with this EOT and it’s a perfect fit for Excellence IT.”
The board for Excellence IT now comprises Anne Beer as operations and HR director, Emma Vaughan as finance administrator and Chris Simpson as an independent trustee.
