The civil and structural engineering consultant was launched 25 years ago by Roger and Ann Casey who have now sold 100% of their shares to an employee ownership trust (EOT).
Henceforth, all current and future employees will have a share in the ownership of the company.
Ann Casey, Philip Lawrence and Adam Williams are now company directors with the trust board comprising founder Roger Casey with Martin Jones as staff representative and Sandra Jenkins of Bevan & Buckland Accountants sitting as an independent trustee.
Lawrence, who has been with the business since its launch, is now managing director and Williams has been promoted to technical director of structural engineering.
Roger Casey Associates has offices in Carmarthen and Haverfordwest and has recently expanded along the M4 by opening an additional office at Baglan Energy Park near Swansea.
Roger Casey said: “We are totally committed to south west Wales and have no plans to move the consultancy from our main base in Carmarthen. So when it came to succession planning and retirement, we looked at all of the options, including a management buyout or an outright sale.
“Selling the business wasn’t an option as we could see that interested companies could possibly create uncertainty around the future of the company and we weren’t happy to do that. A management buyout wasn’t a viable option either, as it wasn’t the right time for those who expressed an interest, therefore when we looked a bit further into the EOT model, we realised that it was perfect for us and the business.”
Ann Casey added: “The success of the company is down to the hard work of past and present employees and the loyalty we have received from our clients, many of whom have been with us from the beginning. Retaining the practice will safeguard the future of the business which is rooted in its locality, sustain employment opportunities for current and future employees and continue to support economic development in south west Wales.
“Now we are employee-owned, those who work with us currently and in the future will have a vested interest in the success of the practice. We believe keeping that legacy, the work and those skills here in south west Wales is vital.”
New managing director Philip Lawrence said: “This is an exciting time for us as a business, and to be able to continue to serve our clients has been an important consideration. Roger and Ann are staying on for the foreseeable future, so it will be business as usual. For those that might be looking to join us in the future, it does make for a much more attractive business. Working for RCA means that they will have a say and a stake in our successes.”
RCA was advised on its EO transition by Social Business Wales, part of development agency Cwmpas.
Sarah Owens, specialist EO consultant for Cwmpas, said: “RCA is the perfect example of how using an EOT as the mechanism for becoming employee-owned can suit certain types of businesses. For Roger and Ann, it was vital that the skills and business they had built remains in south west Wales.
“It is so difficult to find the right way to pass on a business that is beneficial to both the founders and the staff, but employee ownership is exactly that.”
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