Chester-based tech recruiter Searchability has announced its transition to employee ownership via an Employee Ownership Trust (EOT). The company is now 100% owned by current employees, joining a list of over 1,600 UK businesses that are employee owned, including nationally recognised brands like John Lewis Partnership PLC.
Searchability’s founder Martin Blythe, along with all existing shareholders have sold 100% of the company shares to Searchability (EOT) LTD, which is the EOT that holds the shares on behalf of current UK Searchability employees. All employees will benefit from share ownership as beneficiaries of the EOT once the sale has completed, with transition commencing this week.
The decision to transition to employee-ownership was driven by Blythe and fellow director Olly Preston, with a strong commitment to preserve the company’s values, culture and ambitious vision, while rewarding the employees who have helped the company grow and succeed over the last decade.
READ MORE: Manchester tech firms join forces to shake up the warehouse management industry
“Our people are key to our success at Searchability,” said Blythe. “By empowering employees with a sense of ownership, more opportunities to innovate and exciting future career prospects, we are ensuring Searchability thrives as a recruitment company of choice for the tech digital industry.”
Searchability was founded in 2012 with a vision of “creating innovative solutions for companies looking to recruit the very best tech talent in the UK.” Since then, it has launched global operations in the USA, Australia and UAE, as well as multiple sub-brands including Searchability
National Security & Defence, employing 50+ people across five global offices.
With a #1 rating for recruitment services on Trustpilot, as well as multiple award accolades, Searchability hopes that the impact of their new employee-owned status will help compliment its already solid reputation in the market. Searchability works with hundreds of organisations across the globe, including Capgemini, Iceland, LIV Golf, UK Tote Group and many more.
“Having worked as a Searchability director alongside Martin for several years, helping Searchability scale into the global recruitment brand it is today, I couldn’t be happier to be assuming the role of MD for our next chapter as an employee-owned business. We’re lucky to have some of the most talented recruiters in our team who have brought on incredible client names over the past decade, and I can’t wait to see what comes next,” said new MD Preston.
