Why Trace Solutions Is Celebrating Employee Ownership Day
Trace Solutions has been employee-owned since 2007. That was the year in which our founder Richard Wolfe used his personal shareholding to help fund a successful management buyout – before passing the company on to his loyal staff.
With this, Trace became the first ever company to move from PLC status – listed on the London Stock Exchange – to employee-ownership.
Even more extraordinarily, all this was achieved without the need for external finance.
The last couple of years have seen changes in the ownership of several well-known developers of property management software, as private equity investors have begun to target our market.
Subsequent ‘rationalisations’ and retrenchments are causing considerable resentment amongst affected users.
In marked contrast, Trace Solutions remains completely in control of its own destiny, thanks to our EO status.
Our team remains focused on the customer, rather than on short term sales targets.
And we continue with our long term plan to revolutionise the entire sector using Mojo.
So, alongside other employee-owned companies such as The John Lewis Partnership (who just happen to be a Trace client!), we are proud to join in the celebrations for EO Day 2019, which marks 40 years since the creation of the EOA. It takes place this year on Friday, June 28th.
You can read more about the Employee Ownership Association, and the benefits that employee ownership confers, at the EOA website here.
The Financial Times related the extraordinary story of the management buyout in 2007 with the cover article of its Weekend Magazine.