Preparing owners and their teams for EO
Val King, co-founder and former MD of design and manufacturer The Rooflight Company, reveals how JGA remains integral to its successful transition.
Looking for a way out
“Our Finance Director first mentioned employee-ownership in 2016 when my husband Pete and I, who co-founded The Rooflight Company, were looking to find a solution to exiting the business. We attended a seminar that summer run by Jeremy Gadd, explaining employee-ownership for owner-managers, and the following spring we appointed J Gadd Associates. We were impressed by Jeremy’s breadth and depth of experience, plus we felt a personal connection. The sale of our business to employees was one of the most significant milestones in our lives, and I was determined to do everything in my power to ensure the transition was a success.
Selling your business is a complex process, therefore I decided to adopt a project management model for the sale which involved forming a project team. Jeremy brought the organisational and cultural expertise, and throughout the process he was good at guiding and not telling and struck a fine balance, giving us things to think about and not saying ‘you have to do this’.
He was able to reassure us that we had an advantage compared to many businesses due to our values-led culture and open communication of all finances."
Switching up a gear
“Employee-ownership can unleash a lot of uncertainty and Jeremy helped us to be ready for that and to make sure we were communicating in the most positive and effective way. Jeremy's knowledge and advice were invaluable when putting together the communication plan. This started with a detailed document for the Leadership Team."
Essential communication
“Once the leadership team was on board and exposed to employee-ownership by attending the Employee Ownership Association conference, Jeremy and Associate Libby helped us to inform managers. They facilitated a meeting and fielded questions from the managers, using those questions to create an FAQ booklet that became available to the rest of the business. This FAQ booklet was invaluable when we came to announce the transition to the rest of the business as it gave managers confidence to answer the questions and concerns raised by their teams.”
“Employee Ownership can unleash a lot of uncertainty, and Jeremy helped us prepare for that, to make sure we were communicating in the most positive and effective way.”
Val King
The relationship continues
“ Having adopted the employee-ownership trust model, a key element was the formation of a Board of Trustees. We had decided to leave the selection of one of the Board members to the Leadership Team, and they duly decided that, with his extensive experience in employee-owned culture, Jeremy would add great value to the Board.
Since then, Jeremy has also facilitated conferences and events for us with architectural practices. He is an experienced and able facilitator, and brings a great deal in the way he helps to guide clients. J Gadd has played an integral role in our move to employee-ownership through a combination of experience, trust and helping us to navigate the process.”
Summary
J Gadd Associates (JGA) began working with The Rooflight Company in April 2017 when it’s co-founders were looking for a way to exit the business. As well as being an essential part of the transition project team, Associates supported leaders to have conversations with their teams and created vital communications.
Jeremy Gadd was subsequently invited to join The Rooflight Company’s Trust Board.
About The Rooflight Company
Founded in 1993 by architect Peter King, the Rooflight Company designs and manufactures roof windows and skylights for the architectural building product market. It is described by its competitors as the Grand Designs of the roof window market. Based in the Cotswolds, the business became employee owned in March 2019 and has 70 co-owners.
