Roger Casey Associates, civil and structural engineering consultants, has decided after nearly 25 years in business to transition to employee ownership.
Roger and Ann Casey, the founders of the practice, have sold 100% of their shares to the employee ownership trust (EOT), meaning that all current and future employees will have a share in the ownership of the company.
Ann Casey, Philip Lawrence and Adam Williams will now become the new company directors, with the trust board comprising of founder Roger Casey, Martin Jones as staff representative, and Sandra Jenkins of Bevan and Buckland Accountants, who joins as an independent trustee.
RCA has offices in Carmarthen and Haverfordwest and has recently expanded along the M4 by opening an additional office at Baglan Energy Park.
Roger Casey said of the transition:
“We are totally committed to south west Wales and have no plans to move the consultancy from our main base in Carmarthen. So, when it came to succession planning and retirement, we looked at all of the options, including a management buyout or an outright sale.
“Selling the business wasn’t an option as we could see that interested companies could possibly create uncertainty around the future of the company and we weren’t happy to do that. A management buyout wasn’t a viable option either, as it wasn’t the right time for those who expressed an interest, therefore when we looked a bit further into the EOT model, we realised that it was perfect for us and the business.”
Ann explained:
“The success of the company is down to the hard work of past and present employees and the loyalty we have received from our clients, many of whom have been with us from the beginning. Retaining the practice will safeguard the future of the business which is rooted in its locality, sustain employment opportunities for current and future employees and continue to support economic development in south west Wales.”
“Now we are employee owned, those who work with us currently and in the future will have a vested interest in the success of the practice. We believe keeping that legacy, the work and those skills here in south west Wales is vital,” Ann added.
As a consequence of the transition into employee ownership, Philip Lawrence, who has been with the company since inception has been promoted to Managing Director.
He said of the transition:
“This is an exciting time for us as a business, and to be able to continue to serve our clients has been an important consideration. Roger and Ann are staying on for the foreseeable future, so it will be business as usual. For those that might be looking to join us in the future, it does make for a much more attractive business. Working for RCA means that they will have a say and a stake in our successes.”
Adam Williams is now Technical Director of Structural Engineering and has been responsible for the Haverfordwest Castle and Saundersfoot Harbour Regeneration projects. He added:
“The decision by Roger and Ann to sell their company to the staff provides an exciting opportunity for all of us to become part of a successful business and shape the way the company is run.”
New independent Trustee Board member, Sandra Jenkins of Bevan and Buckland Accountants, said:
“I’m delighted to join RCA EOT Ltd as a Trustee, having worked with the directors at Roger Casey Associates Ltd since the company’s incorporation in May 2005.
“I look forward to supporting the Employee Ownership Trust and to use my 25 years of experience working at Bevan Buckland LLP to advise and guide the Trust. We as a practice are proud to work with local businesses, supporting continued development and economic growth in the west Wales region.”
RCA was advised on its EO transition by Social Business Wales, which is delivered by Cwmpas.
Sarah Owens, specialist EO Consultant for Cwmpas, said:
“RCA is the perfect example of how using an EOT as the mechanism for becoming employee-owned can suit certain types of businesses. For Roger and Ann, it was vital that the skills and business they had built remains in south west Wales.
“It is so difficult to find the right way to pass on a business that is beneficial to both the founders and the staff, but Employee Ownership is exactly that. Huge congratulations to RCA on this move to employee ownership, and I look forward to it expanding further in the coming years.”
The Employee Ownership Wales service is part of the Social Business Wales programme delivered by Cwmpas. It is part of the Business Wales family and funded by Welsh Government and the European Regional Development Fund.
For more information about employee ownership, visit: employeeownershipwales.co.uk.
RCA is currently recruiting, for further information, visit: www.rca-eng.co.uk/recruitment.htm.
