Dylan RobertsonDavid Spear Commercials has transferred 60% of its business to an Employee Ownership Trust (EOT), making its employees the majority stakeholders.
Transferring to a partial EOT model has enabled David Spear Commercials to remain independent, locally rooted and people-led.
The day-to-day operations of the business will not change and the company has committed to maintaining high standards, while it can now deepen its employee engagement, financial participation and leadership development initiatives.
David Spear, founder at David Spear Commercials, said: “This company has been my life’s work, built with the support of my wife Sarah, our children, and now with our son Elliot actively involved in the business.
“We’ve created something very special over the years, and I wanted to secure its future in the right way—by placing it in the hands of the people who have helped make it what it is today.
“This move to employee ownership protects our independence, preserves our culture, and creates long-term opportunities for our team.
“We want to say a heartfelt thank you to all of our customers – past and present.
“Your continued trust and loyalty have played a huge part in our journey, and we’re excited to move forward with you by our side, now with a team that’s more invested than ever.”
Based in Tredegar, the company supplies a wide range of commercial vehicles to businesses.
This story was first featured on our sister title Motor Trade News.
