Richmond & Towers now 100% employee owned after sale to trust

Richmond
& Towers, the UK’s longest established public relations consultancy, is now
100% owned by its employees following its sale to a newly created employee
ownership trust.

“This is a very exciting day for our business,” commented chief executive Nikki Thomson. “We think we are the first Top 150 PR agency to be 100% employee owned, reflecting the pioneering attitude that has kept the business successful for so long.”

The
last two years have seen numerous award wins and significant business growth
for Richmond & Towers, with the addition of McVitie’s, Pukka, Estrella
Damm, Westons and Galderma to its roster. All R&T employees are now
beneficiaries of the Suzanne Richmond & Marjorie Towers Employee Ownership
Trust, named in honour of the business’s 1930 founders.

“We
believe employee ownership is the right model for a forward-looking company
like ours, where so much is dependent on our people as individuals and the way
they work together as a team,” said Thomson. “Rather than working for a small
number of shareholders, everyone at R&T is now working for themselves and
for each other. We are sure that our clients will see the benefit of this
approach too. All the comments that we have said so far are incredibly
positive.”

Following
the sale, former CEO Rob Metcalfe has taken on the role of chairman while Nikki
Thomson becomes chief executive and Matt de Leon is promoted to managing
director. Said de Leon: “We are a growing business, focused on delivering
brilliant results for our clients. It’s right that everyone at R&T should
share in our future success. ”

Known
for its long-term specialism on food and drink – and pioneering work to promote
plant-based eating in the UK – R&T expanded its offering with the
acquisition of Van Communications in 2014. As well as a large fmcg portfolio,
it now also works for clients in insurance, retail, leisure, fashion, beauty,
energy and the built environment.

Added
Deb Oxley OBE, CEO of the Employee Ownership Association: “We congratulate
Richmond & Towers on its transition to employee ownership. By widening
ownership of the business to its employees Richmond & Towers is securing
the future of the business, including its ethos, values and employees, while
rooting itself locally for the longer term to the benefit of the communities
which it serves.”

Advisors on the sale included Moore Kingston Smith, Simons Muirhead & Burton, Freeths and Jurit.