Jessica BirdTheme park ticket retailer Attraction Tickets has announced its transition to an Employee Ownership Trust (EOT).
As part of the move, the company will distribute over £1m in completion bonuses to its 128 full-time employees, marking a significant milestone in its 23-year history.
The EOT structure will hold shares in the company for the long-term benefit of employees, enabling them to directly participate in the company’s future financial success.
The bonuses will be distributed based on years of service, with the first £3,600 of each payout tax-free under EOT rules.
Employees have an average length of service of over six years.
The transaction values Attraction Tickets at an enterprise value of £41m.
In the year ending 31st December 2024, the company reported a Total Transaction Value (TTV) of £197 million and EBITDA of £6m.
The transition to employee ownership is expected to drive organic growth while preserving the company’s unique corporate culture.
It aims to foster greater employee engagement and productivity, with all staff directly benefiting from the business’s long-term financial success.
The move follows in the footsteps of businesses including The John Lewis Partnership, Aardman Animations, Richer Sounds, and Go Ape.
The EOT board will be chaired by Juliet Thorburn, global HR director at Scott Bader, an employee-owned company.
CEO and founder Oliver Brendon, along with his management team, will continue to lead the business.
Brendon said: “Today we have concluded a transaction that will reward the business’ most vital stakeholders – its employees.
“Employee ownership is one of the most equitable forms of capitalism, whereby value is shared amongst those who work hard to create it.
“This ownership structure will not lead to a softer commercial approach. In fact, employees and management will be more focused than ever on business performance because they will benefit from our ongoing success.
“This is an important milestone for the company I started 23 years ago, and we are all excited about future growth.
“Above all, I sincerely hope that the legacy of this company is one of excellent service to our customers, enduring partnerships with our iconic suppliers, and generating prosperity for all employees over the coming years and decades.”
Employee Ownership Trusts, established by the UK Government in 2014, enable employees to indirectly own a company, with the trust holding shares on their behalf.
The transaction was supported by Fieldfisher, which provided legal advice, leveraging its expertise in creating and sustaining employee ownership solutions.
The independent company valuation was conducted by Travel Trade Consultancy, which specialises in travel company transactions.
Attraction Tickets also worked with J Gadd & Associates, which advised on the cultural transition to employee ownership.
