Broker Thomas Carroll transitions into employee ownership
Broker Thomas Carroll Group has handed over the reins to its 181 employees as part of an Employee Ownership Trust (EOT).
The South-Wales headquartered company was established in 1972 by Evan Thomas and Terry Carroll. The transition has been made by Evan’s son and current CEO of the Group Rhys Thomas. It means that Thomas Carroll Group’s 181 employees now own a share of the business.
Rhys Thomas said: “This is all part of our long-term succession plan for the business. The EOT model very much reflects the ethos of the group, one which has been in place since my father and Terry founded the company 51 years ago, and one which we now want to pass on to the next generation.
“We wanted to respect the legacy and heritage of those that built this wonderful company and to find a suitable way to achieve a successful succession plan at the same time – and we believe that EOT does all of this.
“We’ve never entertained a trade sale and are fiercely independent, putting our clients first for more than 50 years, and wish to remain so. Within that time, we’ve seen many competitors being sold and swallowed up by larger companies and our industry in turn being monopolised by a few businesses - that has never been an option for us.”
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