MACHINERY specialist Warwick Ward has become an employee-owned business.
The company was founded in 1970 by Warwick Ward and has grown into a major stockist and supplier of both new and used earthmoving and material recycling equipment and spare parts.
Partnering with brands Case Construction Equipment, Terex Ecotec, Keestrack crushing and screening equipment and more recently Terex Recycling Systems, the company provides aftersales support via a nationwide service team and depots in the north, midlands and the south.
Warwick Ward has now joined an ever-increasing list of UK companies to make the transition to being employee-owned. As a result, employees will profit individually from the future success of the company and benefit from representation on the board of trustees.
The firm confirmed that no jobs are at risk as a result of the transition, and both owners will continue to take an active role in the business.
Ashley Ward, joint MD at Warwick Ward, explained, “This is an incredibly exciting new chapter for Warwick Ward (machinery) Ltd as we approach our 54th year of trading. Over the past six years or so my brother and I have been working on a succession plan for the future of the business and after a lot of research and consideration we feel that the EOT model is a perfect fit for both the business, our brand partners and for ourselves.
“It provides motivation for the staff, stability and continuity and ensures the legacy of Warwick Ward continues in the way we want it to.
“Over a substantial period of time, we have worked hard to put in place a fantastic senior leadership team in Simon Causier (commercial director), Matthew Godhard (operations director) and Russell Holmes (finance director) who are pivotal and responsible for the day to day running of the business. Matt and I continue to work closely with the senior team during this transition.
“The EOT model is incredibly exciting and motivational for all our driven and dedicated team as they are now all employee owners in the business, have representation on the trust board and will profit individually from the future success of the company.”
Commercial director Simon Causier added, “Having now been part of the management team for the last 15 years, it has been an exciting and successful journey for the company over that period. The way the business has evolved and grown over recent times has been phenomenal and everyone at Warwick Ward has a huge amount of pride in the company and utmost respect for Matt and Ashley and how they have strategically shaped the business since taking over from their father 23 years ago.
“The transition to being an EOT is a fantastic and exciting opportunity for all the staff and senior management team to now play a pivotal role in the future success and continued growth of Warwick Ward and we are all thrilled at the opportunities that lie ahead.”
