Warwick Ward make the move to employee ownership
Succession plan sees major plant supply business transition to Employee Ownership Trust
WARWICK Ward (machinery) Ltd were founded in 1970 by Warwick Ward and have since grown into one of the largest stockists and suppliers of new and used earthmoving and material recycling equipment and spare parts in Europe.
Partnered with premium brands such as CASE Construction Equipment, Terex Ecotec, Keestrack, and, more recently, Terex Recycling Systems, the company provides after-sales support via a dedicated nationwide service team and depots in the North, Midlands, and South.
The company has recently joined an ever-increasing list of UK companies that have made the transition to employee ownership. As a result, employees of Warwick Ward will all profit individually from the future success of the company and benefit from representation on the board of trustees.
Warwick Ward say no jobs are at risk as a result of the transition and both owners [Matt and Ashley Ward] will continue to take an active role in the business.
Joint managing director Ashley Ward said: ‘This is an incredibly exciting new chapter for Warwick Ward (machinery) Ltd as we approach our 54th year of trading. Over the past six years or so, my brother and I have been working on a succession plan for the future of the business and, after a lot of research and consideration, we feel that the Employee Ownership Trust (EOT) model is a perfect fit for the business, our brand partners, and ourselves. It provides motivation for the staff, stability and continuity, and ensures the legacy of Warwick Ward continues in the way we want it to.
‘Over a substantial period of time, we have worked hard to put in place a fantastic senior leadership team in Simon Causier (commercial director), Matthew Godhard (operations director) and Russell Holmes (finance director), who are pivotal and responsible for the day-to-day running of the business. Matt and I continue to work closely with the senior team during this transition.
‘The EOT model is incredibly exciting and motivational for all our driven and dedicated team as they are now all employee owners in the business, have representation on the trust board and will profit individually from the future success of the company.’
Commercial director Simon Causier commented: ‘Having now been part of the management team for the last 15 years, it has been an exciting and successful journey for the company over that period. The way the business has evolved and grown in recent times has been phenomenal and everyone at Warwick Ward has a huge amount of pride in the company and utmost respect for Matt and Ashley and how they have strategically shaped the business since taking over from their father 23 years ago.
‘The transition to an EOT is a fantastic and exciting opportunity for all the staff and senior management team to now play a pivotal role in the future success and continued growth of Warwick Ward, and we are all thrilled at the opportunities that lie ahead.’
