Conlon Group has transitioned to an employee-ownership trust (EOT), marking a new chapter in the company’s history.
- The company was originally founded by the Conlon brothers in 1961 and has remained family-owned until now.
- Daily operations and management will continue as before, with the current board of directors retaining executive control.
- The business reported a turnover of £39.7 million with a pre-tax profit of £2 million for the year ending October 2023.
- Two elected employee trustees will join the trustee board, ensuring employee representation in governance.
Conlon Group’s transition to an employee-ownership trust marks a significant shift from its longstanding history as a family-owned business. Established by the Conlon brothers in 1961 after their collaborative work on the Preston bypass, the group has remained under family control until this notable transition. This change, however, does not affect the daily management or operational procedures, which will remain under the oversight of the existing board of directors.
Michael Conlon, the Chairman, has articulated that this strategic move aligns with the business’s core values, which have ‘people at the heart of the company.’ The shift to employee ownership is seen as the optimal direction for ensuring the company’s prosperity and the welfare of its employees. This structure, aimed at integrating employee contributions and perspectives more directly into company governance, positions the organisation for sustainable growth.
Financially, the Conlon Group has shown robust performance with a reported turnover of £39.7 million and a pre-tax profit of £2 million for the fiscal year concluding in October 2023. The stability of its financial health provides a solid foundation for this transition to employee ownership, maintaining confidence among stakeholders about the firm’s future.
Crucially, the newly formed trustee board, responsible for oversight, will include two elected employee trustees. This inclusion is intended to provide a valuable platform for employee voices in the company’s strategic decisions. It underscores a commitment to collaborative governance, ensuring that employee interests are considered at the highest decision-making levels.
The successful transition to an employee-ownership trust symbolises the Conlon Group’s dedication to its workforce and business ethos.
