The husband and wife younger founders of Go Ape now have handed ownership of the treetop adventure business to the company’s 1, 000 employees by – turning into a John Lewis-style employee-owned trust.
Tristram and Rebecca Mayhew, who founded the company wearing 2002 in part as a way to consist of raising their then young children with building an international business enterprise, have sold 90 per cent and additionally shareholding for an undisclosed payment to create the new structure. This will pay an estimated £3, three hundred per year to each full-time employee, according to the company.
The move echoes those things of upmarket hi-fi retailer Richer Sounds , whose founder Julian Richer distributed control of the business in 2019 to a 500 staff by downloading 60 per cent of your man’s stake into an employee-owned trust.
Valuable Richer, the Mayhews were initially driven in part by their long for the company to be controlled by the people that have got to know it as far better rather than third-party investors.
“Go Ape is complete with always felt like part of our family, ” said Rebecca Mayhew, who together with her spouse have stepped back between executive roles but will sit on the board of trustees of the new entity. “We knew deep down we may never be comfortable selling right back to private equity. ”
The creation on Go Ape’s employee although structure follows a fender year for the business, fuelled by families seeking movements after months of outbreak lockdown.
The company, which operates portals across 35 locations the european union and 16 US states, supplies generated earnings before rates, taxation, depreciation and amortisation of £15m on a earnings of £40m during the latest financial year. This balanced with ebitda of £6m above £21m turnover in the previous twelve months.
Tristram Mayhew, who has retained the title towards Chief Gorilla he took out when he was Go Ape’s managing director, said: “We trust and respect the most important tremendous team we have location to deliver a successful future in every case in Go Ape to share.
“We didn’t want to hang on too much and not give them an independent next. We care deeply concerning the business and feel that trait better, and very Go Glutton way of transitioning, rather than software out to the highest bidder. ”
Leave Ape adopts John Lewis employee-owned model
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