As revealed today in The Drum, 2LK, one of the world’s leading independent brand experience agencies, has announced it has transitioned from direct ownership to an EOT (Employee-Owned Trust). The transfer coincides with 2LK’s 30th year of operation.
An Employee-Owned Trust (EOT) is a unique ownership structure, where, instead of equity for individual shareholders, the employees own the company through a trust. This means the employees become the ultimate beneficiaries of the company’s future via a Management Board and Trust Committee.
This type of ownership is becoming increasingly popular, with recorded numbers of EOTs up by a third in June 2023, compared to the previous year. Nearly 40% of EOTs are in the professional services sector including agencies Skout, ustwo, DXW, Torchbox, Answer Digital and Eyeful Presentations.
The EOT model creates a sense of ownership and responsibility, aligning employee interests with the long-term interests of the company. As a result, the benefits are multiplied, with a workforce who are more engaged, motivated, and loyal.
MD and Agency Partner, Dan Mason, commented: “Our people have always been our most important asset and the driving force of our accomplishments. Ensuring they benefit from the company’s success, and feel invested in the collective future, is core to our beliefs.
Dan continued: “Thinking of an exit strategy, my business partner Andy and I were adamant we wanted to protect the employees, culture and independence of 2LK after 30 years of private ownership, which meant any other course of action just wouldn’t have been appropriate. This is a positive and progressive step in our story and is good news for our team and our clients.”
Author: Adam Parry
Adam is the co-founder and editor of www.eventindustrynews.com Adam, a technology evangelist also organises Event Tech Live, Europe’s only show dedicated to event technology and the Event Technology Awards. Both events take place in November, London.
