A boutique that specialises in employee ownership has new employee owners after the firm was acquired by staff. Twenty-year-old practice Postlethwaite Solicitors, based in London and Leeds, has changed hands via an employee ownership trust (EOT).

Robert Postlethwaite, Postlethwaite’s founder and managing director, said: 'After 20 years advising our clients on how to become employee-owned, in more recent years often through an EOT, the time is right to do this ourselves. Our success has always been generated by the talent we enjoy throughout our business, making EO for us a compelling foundation for our continued growth.'

Robert Postlethwaite

Founder and managing director Robert Postlethwaite

He added: 'We have always had employee ownership through a company share option plan, but now we have taken the big step of becoming 100% employee-owned through an EOT.'

Robert Postlewaite held a majority stake among four owners who have now transferred 100% of the business to the EOT for a confidential sum. He remains as a director. 'Generally, it will continue to be business as normal for the firm, with employee ownership building on its existing, open and collaborative working culture', the firm said. 

Postlethwaite Solicitors

L-R: Judith Harris, Jo Cunningham, Robert Postlethwaite, David Reuben, Alison Stevens, Lorna Martin, Toby Locke, Marie Cremona

Source: Postlethwaite Solicitors