Employee Owned, Employee Driven - Creigiau Travel Complete Employee Ownership Trust

Employee Owned, Employee Driven - Creigiau Travel Complete Employee Ownership Trust

Creigiau Travel Ltd, an established transport hire company, has successfully completed an Employee Ownership Trust (EOT) in a deal facilitated by GS Verde Group.

History of Creigiau Travel

Founded in 1986, family-owned business Creigiau Travel Ltd was established by Roy Matthews with only one taxi in the village of Creigiau. The company started with only two employees and grew by 1996 to include more taxis, minibuses and eventually went on to add coaches to its services. It now employs 65 staff members and is well established in its industry.

With Sam Matthews, Roy's son, joining in 2012, the business doubled in size and provided services for the likes of Cardiff City Football Club. Today, Creigiau Travel offers 35 vehicles for hire, including a comprehensive range of coaches, midi-coaches and minibuses, which support everything from school transport to private hire and tour work.

Why an EOT Deal Was the Right Move

The decision of the EOT came after the family considered a succession plan for the business as a result of Roy and his wife approaching their seventies. The family had an initial lack of awareness about EOTs as an option for their succession plan until a recommendation was made from a trusted source in the industry.

The EOT will ensure a stable future for the long-term employees as they become involved in the direct decision-making of the company's growth. The transaction also allows the family to maintain the business ethos, avoid uncertainties with selling to external parties and help distinguish the company in a saturated market. 

On hearing the news, Jim Elson coined the phrase, 'Employee-Owned, Employee-Driven', which has resonated with everyone involved and is likely to become a company slogan.

Life After the EOT

Since the EOT, Sam Matthews and his parents have maintained responsibilities for day-to-day operations, with a transitional plan in place for a gradual handover to managers over the next five years. Both management and staff have welcomed the EOT as they recognize job security and involvement in the company's future, fostering a sense of ownership and commitment.

Benefits of an EOT

Seen as a positive and friendly path companies, Employment Ownership has become an increasingly popular transaction in recent years. It aims to promote long-term, sustainable growth for businesses and sees employees owning majority shares in the company.

There are many advantages to an EOT transaction, such as attracting and retaining quality staff by offering ownership stakes and ensuring continuity and stability within the company.

An EOT avoids market uncertainty and provides a clear, planned exit strategy for business owners without market volatility. It also increases employee motivation and investment in the company's success. 

Working with GS Verde Group

Sam Matthews, Director of Creigiau Travel, said: "The support from GS Verde Group has been exceptional. Their professionalism and level of guidance have been impressive. The transition to an Employee Ownership Trust has not only provided a secure future for our employees but has also ensured the continuity of our family business ethos. I highly recommend GS Verde for their outstanding service and dedication."

Creigiau Travel's longest-serving manager, Jim Elson, commented, "The announcement that staff would be part of the company's Employee Ownership Trust has had a very positive effect on the business. In terms of staff culture, everyone feels more valued, more secure in their job roles, and more motivated to make improvements. A happy, engaged, and committed workforce is the key to delivering the highest possible standards of service, which is always at the heart of our industry."

Creigiau Travel praised the swift, professional support and exceptional expert guidance it received from GS Verde Group throughout the EOT transaction process. With an interest in potential future work with GS Verde Group, due to the positive experience, Creigiau Travel strongly recommends EOT's for other businesses that are considering an exit strategy. 

The GS Verde Group are business-focused experts in getting deals done. Combining all the services needed to complete a corporate transaction, including legal, corporate finance, tax, accountancy and communications, GS Verde Group acts as a single advisory team and provides a truly end-to-end service.