After ten years of building and growing Engage Technical Solutions into a successful business David Gagen, the owner and founder, along with the Board Directors wanted to secure the future for Engage and a new ownership structure. They chose to transition the company to an Employee Owned Trust (EOT).

An EOT works by the business owner selling their shares to a trust rather than to another company or via a management buyout.  As the EOT has no money, it pays off its debt to the owner via company profits over a period of time (tax-free).  During this period employees can still benefit financially should there be excess profits.  Once the debt is cleared, the employees become the sole beneficiaries of the EOT and can enjoy financial benefits in the form of profit-sharing payments.

We felt it was time to transition away from being a family-owned business and to enable the Gagen family to take a step back from the day-to-day running and operations of the business.  It was important to us that the independence of Engage was maintained. Too many times we’ve seen great companies absorbed by big corporations, and where what made them special was quickly eroded. And we did not want this for Engage. 

Alongside the operational board, we have also established a Trustee Board, who has a legal duty to ensure that Engage is being run for the benefit of the beneficiaries, the Engage employees.

The Trustees are formed of:
• Independent Chair of Trustees. 
• An Engage Employee Representative (elected by the employees annually).
• David Gagen (as the original founder David has a role as a trustee).

There are many benefits to being an EOT, but here are just a few:

As beneficiaries of Engage, every one of us can contribute to the growth of the company and the creation of a fantastic culture, where employees feel valued and business relationships thrive.

Each year all eligible employees benefit from the profitability of the company. The level depends on the profits. There is no outlay from you for your share of the business. And, as the liability for Engage sits with the General Board and the EOT Trustee Board, there is no individual liability.

Crucially, you can have a say in the running of the business.  Through continued reviews, surveys, and the Employee Representative, we ask what the employees want from the company.  Enabling us all to be part of the process of implementing these changes. This can impact everything from pensions, holidays, and benefits to company investments and much more.