A Bolton technology business is now majority employee-owned with the original family holding the rest.

Bolton’s TVD Group, encompassing TVC Technology Solutions, Mitchell & Brown TV and TVD B2B, has moved to being majority employee-owned, supported by funding from Natwest Bank.

Following a successful year, technology solutions business TVD Group has facilitated the transition of a 51 per cent stake in the company to employees, with the Brown family retaining a 49 per cent of the share.

The arrangement sees the creation of an Employee Benefit Trust (EBT) that holds shares of the business on behalf of employees, with every member of staff with 12 months of continuous service becoming a co-owner of the business.

The Bolton News: Matthew Brown

The move follows other famous brands in the electrical sector, such as Richer Sounds, that have seen the business go from strength to strength under employee ownership.

After more than a quarter of a century of growth as a family business, TVD owners Mat and Dan Brown announced the restructure as the foundation to the next chapter for TVD.

Mat Brown, CEO, said: “Growing TVD into the business it is today has taken huge focus, dedication, and hard work over the last 27 years.

“We can’t think of a better way to secure the future and independence of the business than to make the people that drive the business forward every day co-owners.”

The benefits of employee ownership are said to include higher productivity as staff are invested and have a voice, increased employee engagement and motivation and lower staff turnover.