The transition of ownership of a prominent hire company in the north of England marks a new chapter for the business and its employees.
- Ownership of William G Search Limited, established in 1946, has been transferred to an employee ownership trust.
- The firm, known for providing portable accommodation and vacuum tanker services, employs over 120 people.
- The Search brothers chose to sell to an employee trust, maintaining the company’s family values.
- The business reports a turnover of £15 million and a £1.1 million pre-tax profit in 2023.
Ownership of the renowned Leeds-based hire company, William G Search Limited, has experienced a significant transition, as it has been sold to an employee ownership trust (EOT). With its foundations laid in 1946, the company has become a stalwart in the industry, particularly noted for its provision of portable accommodation and toilets, alongside a fleet of vacuum tankers. Over its years of operation, the firm has developed a reputation for reliability and service quality, employing a workforce of more than 120 individuals across its multiple offices in Leeds, Liverpool, Manchester, Nottingham, and Sheffield.
The company is recognised for its impressive client base that includes major outdoor events such as music festivals and the prestigious Aintree Racecourse, a partnership that has lasted nearly half a century. Its vast experience and expertise have also been a valuable asset to the construction industry. In the fiscal year 2023, the company reported a robust turnover of £15 million and realised a pre-tax profit of £1.1 million, underscoring its financial health and operational success.
The decision to transfer ownership to an EOT was significantly influenced by the values and vision of the current owners, the Search brothers, Richard and Jamie, who are the grandsons of the company’s founder. For the past 35 years, they have led the company, fostering an environment that values both its team and its clients. Richard Search highlighted the importance of this move in succession planning: “When it came to succession planning, our children already have successful careers elsewhere, so we were keen to find the right way to secure the future of our firm for the people that matter the most – our team and our clients.”
Richard Search further elaborated that offers from competitors were not aligned with the ethos of the company, which prides itself as a family business. This sentiment was echoed by legal adviser Cathy Cook, who underscored the brothers’ desire for a retirement strategy that preserved the company’s integrity and ensured its continuity. This transition allows Richard to remain involved in the business during the transition period, committing to a minimum of three more years in a management capacity.
The sale to an employee trust ensures the company’s legacy and commitment to its family-oriented values continue into the future.
