Bisley’s CEO, Richard Costin has announced that Anthony Brown, the owner of the Newport-based office furniture designer and manufacturing firm, has established an Employee Ownership Trust (EOT), gifting the employees 51 per cent of the shares in Bisley.
Since joining Bisley in February 2020, Richard has been working closely with Anthony, regarding the business succession plan and the long-term future of Bisley and its employees.
Moving forward, 51 per cent of Bisley will be indirectly owned by its circa 500 global employees, most of whom are based in the UK, but also with offices throughout the world, including Dubai, New York, Paris, Germany, the Netherlands, and Ireland.
The development of the Bisley Employee Ownership Trust has been an integral part of Anthony’s ongoing succession planning since he began working for his father in 1960. 2022 marks his 52nd year as the owner of Bisley, the company he bought from his father upon his retirement in 1970. At the time he became the proud owner of the business with a £370,000 turnover, employing 45 members of staff.
Since taking ownership of Bisley, Anthony has diversified the business, continually adapted to ongoing technological, economic, and cultural change, opened offices across the world, and has been consistently recognised for excellence in British design.
Today the company produces over 15,000 items per week, exporting to over 75 countries around the world. Over recent years Bisley continues to diversify, designing new innovative products for both the home and the office, significantly expanding its e-commerce offering, and most recently establishing a new partnership with John Lewis.
Anthony, who will continue as Non-Executive Chairman said, “for some time now, along with the Board of Directors, I have been seeking ways in which to ensure the long-term success of Bisley, and at the heart of this for me has always been the most important element of Bisley – our people.”
The Bisley Employee Ownership Trust will be managed by a group of Trustees, including CEO Richard Costin.
Richard added, “it has been an honour working with Anthony, bringing this exciting change to galvanise and unite all of us at Bisley.
“Our staff across the world mean so much to us and it has been a pleasure to complete the EOT at such a challenging economic time. This important announcement provides reassurance to our staff, customers, and suppliers and it allows our ethos, values, and independence to continue to thrive while allowing us all to share in the success, and to continue the incredible legacy that Anthony has set.”