Twisted Automotive, the Yorkshire-based Land Rover specialist, is now owned by an employee-owned trust
Twisted Automotive’s 35 staff members now share collective ownership of their company. The Land Rover business, known for its Defender upgrades, is jointly owned by a new Employee Owned Trust (EOT) and Hydro-Graphics – a hydrodipping and custom paint business which is also part of Twisted Group.
Charles Fawcett, who founded Twisted in 2000, remains in his current role as chief executive. Speaking about the share ownership agreement, he said: “It is with great pride that we enter employee ownership; a company that recognizes both my appreciation of my hardworking team and the importance of their contribution to the success of the company. The establishment of an EOT program is a very exciting milestone in the company’s history and is essential to our succession planning in the wider business arena.
What is an EOT?
Sometimes dubbed the “John Lewis model,” employee-owned trusts are designed to give employees a majority stake in their business. This gives them more incentive to influence business decisions, bringing day-to-day benefits as well as financial rewards. Employees do not have to personally own shares in the business, but the trust acts for their benefit. When an individual sells their shares in a company to an EOT, the transaction is not subject to capital gains tax.