Provider of sustainable temporary power solutions, Power Electrics, has ‘transitioned’ from being privately owned to an Employee Ownership Trust (EOT), in what the company dubs ‘an exciting development’ and a ‘significant milestone in its long-standing commitment to its people, customers, and suppliers’.
Effective immediately, Power Electrics will be fully owned by its employees through the EOT structure, in a move that it says positions it ‘for continued success and growth while safeguarding its core values, brand reputation and culture’. The company adds that the move to employee ownership ensures that its ‘most valuable asset – its people – are at the heart of its future’.
CEO, Andy Pullin, said: “Our employees have always been the driving force behind Power Electrics’ success. By becoming an employee-owned business, we are creating a more secure future for everyone in the company. This step not only rewards the dedication of our employees, but also inspires greater innovation and commitment moving forward.”
The business’s shareholders were advised on the transition to employee ownership by Osborne Clarke LLP and KPMG Corporate Finance.
In addition to offering traditional power generators, Power Electrics also supplies ‘environmentally conscious alternatives’ such as Battery Energy Storage units, Stage V generators, and HVO fuel.