£32m-turnover Liverpool family building firm Frank Rogers hands majority ownership of the business to its employees via an Employee Ownership Trust. Tony McDonough reports

Liverpool construction and fire safety specialist Frank Rogers Building Contractors is handing over majority ownership of the business to its 80 employees.

Founded in Clubmoor more than 50 years ago by Frank Rogers, the business is currently owned and run by his son, Dean Rogers, who took the helm in 2009. Now Dean is overseeing one of the biggest changes in its history.

He and his directors are establishing an Employee Ownership Trust (EOT). It is a special type of employee benefit trust introduced in the UK via the Finance Act 2014 to encourage indirect employee ownership inspired by the John Lewis model.

Under the new structure at Frank Rogers, 75% of the company is now controlled by the EOT, with the Rogers family retaining the remaining 25%. Dean will continue to run the company as managing director.

In its latest accounts Frank Rogers has achieved a record annual turnover of £32m as it continues to grow its footprint in both the construction and fire safety sectors. In the last five years it has developed a number of specialisms, including major heritage and education projects.

Dean described the move to an EOT structure as “an exciting new chapter for Frank Rogers” and said it was about protecting the firm’s legacy while looking to the future.

“This is a significant milestone for the business and one that means a great deal to me personally,” he said. “My dad founded Frank Rogers more than 50 years ago, building the business on hard work, strong relationships and a reputation for delivering quality work.

“When I took over the running of the company in 2009, I was determined to build on those foundations and take the business forward.

“It’s certainly been a journey, and I couldn’t have done it without the support of my family and a number of loyal members of staff, many of whom are still with us today. We’ve also been fortunate to attract some incredibly talented people along the way who have helped us grow into the business we are today.”

An EOT means there is no direct ownership. Individual employees do not own shares directly. Instead, the trust holds them collectively for the benefit of the workforce as a whole.

Dean added: “Over recent years, I’ve given considerable thought to the long-term future of the business. We’ve had opportunities to sell to external buyers, which would undoubtedly have been financially attractive, but I always felt there was a better way to protect what we’ve built.

“For me, it was never just about achieving the highest sale price. It was about securing the future of the business, protecting its independence and creating an opportunity for the people who have contributed to its success to share in its future.”

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DSG Accountants and Glenville Walker Solicitors, both based in Liverpool, played a key role in helping set up the EOT. Dean said: “This isn’t the end of our family business story. It’s the beginning of an exciting new chapter.

“It is one that gives our employees a greater stake in the future while protecting the independence, culture and values that have been central to our success.

“We have ambitious plans for the years ahead, and I genuinely believe this structure provides a fantastic platform for continued growth, investment and opportunity.”