Derwent Windows opens door to employee ownership
Fri, 20 Dec 2024 | BUSINESS SALE
Derbyshire-based Derwent Windows and Doors has transitioned to employee ownership. It means the group, which has been in business since 1994, will now be owned by its employees through an Employee Ownership Trust (EOT).
The company’s management will remain unchanged, with managing director Alister Walters and operations director Andrew Maynard continuing to oversee day-to-day operations.
The newly formed board of Trustee directors, including Rob Walters, Duncan Shearer and Donna Gillott, will manage the EOT and ensure it serves the best interests of the employees and the business.
The business has grown to become a popular supplier and installer of bespoke windows and doors.
With showrooms in Ripley, Derbyshire and West Bridgford, Nottinghamshire, it specialises in products for period homes across the East Midlands such as sash windows, French doors and stained glass.
The company said that the move to an EOT reflected its ‘commitment to sustaining the company’s independence and recognises the invaluable contributions of our outstanding employees’.
The group added: “This decision not only secures the future of our business but also honours the legacy of our founder by preserving the unique culture that has defined Derwent Windows and Doors for over two decades. An EOT is particularly well-suited to our business model, where our people are at the heart of our success.”
Walters, trustee director at Derwent Windows and Doors, said: “This transition to an Employee Ownership Trust is a natural evolution for our company. It ensures that our values are safeguarded while maintaining our unique culture. For our customers, it’s business as usual—we remain committed to delivering excellence, with the same dedication and passion that has always been at the core of Derwent Windows and Doors.”
According to its most recent annual results for the year ending 31 March 2024, the company had an average number of employees during this period of 21.
Find out why Employee Ownership Trusts are becoming more popular
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