Harlow Bros Holdings announces plans for employee-owned trust5 October 2021
Timber merchant and engineered timber systems producer Harlow Bros is to see an overhaul of its ownership structure which will put employees at the heart of the business.
The directors and shareholders of Harlow Bros Holdings have announced plans for the restructuring of the ownership of the group businesses, with the family owners intending to sell the majority of its shareholding to an Employee-Owned Trust in the first quarter of 2022.
“The family want to ensure that the business not only retains the family values that have made the company successful for the last 94 years but also provides a legacy and opportunities for the people that continue to work in the business,” the company said.
The move to employee ownership is designed to allow the business to remain independent, resilient, and sustainably financed.
The board have agreed a long-term arrangement which means that the family will maintain a serious commitment to the business for the foreseeable future. The family will also continue to be the landlord for the majority of the operating sites.
The business has 12 operating sites.