Operating in the North East of England since 1924, the company has only had three owners.  Harry Woolley founded the business and worked in it until his death in the 1950’s.  It was purchased by Parson and Crosland Ltd until 2000 when Harry Wilmot led a management buyout.  After successfully growing HE Woolley to its current position, Harry has now sold the business into the ownership of the c40 existing employees for their benefits and the benefit of future employees.

Harry says the reasons for the change were partly down to ownership and leadership succession and partly to encourage development of the business by its loyal employees.  Harry is not looking to retire but is at that age when “the top of the hill is behind me, not in front !” and ensuring HE Woolley’s long term independent future was essential to give comfort to employees, customers and suppliers.  Harry didn’t wish to burden the management team with the risks associated with a management buyout and a trade sale did not sit comfortably either.  The move to employee ownership offered the employees security about their jobs and the company, offered Harry an effective and simple exit route and ensures that everyone at HE Woolley is working with the same vested interest. 

Harry believes that employee ownership will give employees an incentive to support each other, contribute ideas and efforts to the business, allow employees to share the rewards and encourage them to play their part in delivering HE Woolley’s longer term strategy.

Harry has noted than even in the short time that employee ownership has been discussed within the company, the change in work practices and attitude has been palpable.  Sales have risen, staff retention has ceased to be an issue and the tone of communcation within the company is now more open, more progressive and more positive.

It is thought that Woolley’s is the first member of FIA to become Employee Owned.  We are sure it will not be the last.  If anyone reading this would like to learn more about HE Woolley’s move to employee ownership please call Harry on 01642 247337, or visit the EO Hub on www.employeeownership.co.uk.