The staff of Caerphilly based company Educ8 Training Group have become majority shareholders of the business.
The company has announced the successful completion of an Employee Ownership Trust scheme. Its staff are now majority shareholders and collectively own 51 percent of the business.
The scheme will create a more employee-centric structure to empower staff and benefit the company as a whole. Educ8 has a reputation for putting employees and the community at the heart of the business and is renowned for its strong values approach.
Colin Tucker, Chairman of Educ8 Training said,
Since setting up the business it has always been important to have community at the heart of Educ8. Setting up this trust in favour of our employees means we can truly say Educ8 is embedded into our local communities. It will create true value and wealth for those that have contributed to its success.
Our board of directors, trust representatives and all employees can continue to drive the business to even greater heights and maximise the opportunities this will bring. Employee Owned Trusts form part of the Welsh Government programme and are a key driver for wealth creation in communities.
Founded in 2004 to address skills shortages in Wales, Educ8 now employs over 200 staff. In an exceptional period of growth, the company recently expanded into England with a fourth acquisition. Educ8 was named the No.1 Best Mid-Sized Company to work for in the UK in the 2021 Best Companies survey and has a proven track record in employee engagement.
Grant Santos, CEO of Educ8 Training said,
We strive to provide a great working environment and an enriching learning experience for our learners and partners. We champion world class employee engagement and are proud to recognise our staff in a meaningful and significant way.
People are at the heart of what we do. As a company based on strong moral principles and values, this decision is a natural transition. It is our staff, the Educ8 family that has created such a great environment to work in. It is now time for all those involved to share in that success. We will drive the business to even greater heights and maximise the opportunity that the creation of the EOT brings to all involved.
The transition to an EOT scheme has been funded by BOOST&Co.
Chris Mears, Principal, BOOST&Co said:
We were hugely impressed by the quality of the Educ8 team and the opportunity to accelerate growth in response to the critical need for high quality apprenticeships and training to address the skills gap in Wales.
We are delighted to support this transaction and look forward to seeing the Group reap the benefits of employee ownership.
The announcement of the scheme comes as the Welsh Government have pledged £366m to deliver 125,000 all-age apprenticeships across Wales in the next three years.
This major investment follows £152m of funding from the Welsh Government last year, including employer incentives to recruit through apprenticeships to help businesses’ recover from the pandemic.
With ongoing support from the Welsh Government, Educ8 will continue delivering quality apprenticeships and training in the workplace to ensure employers, learners, and staff reach their full potential.
Dealmaking experts GS Verde Group advised throughout the transaction.
