As revealed today in The Drum, 2LK, one of the world’s leading independent brand experience agencies, has announced that it has transitioned from direct ownership to an EOT (Employee-Owned Trust). The transfer coincides with 2LK’s 30th anniversary.
An Employee-Owned Trust (EOT) is a unique ownership structure where, instead of equity for individual shareholders, employees own the company through a trust. This means that employees become the ultimate beneficiaries of the company’s future through a Board of Directors and a Trust Committee.
This type of property is becoming increasingly popular, with the number of EOTs registered increasing by a third in June 2023 compared to the previous year. Nearly 40% of EOTs are in the professional services sector, including agencies Skout, ustwo, DXW, Torchbox, Answer Digital and Eyeful Presentations.
The EOT model creates a sense of ownership and responsibility, aligning employee interests with the long-term interests of the company. As a result, the benefits are multiplied, with a workforce that is more engaged, motivated and loyal.
MD and Agency Partner Dan Mason commented: “Our people have always been our most important asset and the driving force behind our performance. Ensuring that they benefit from the company’s success and feel committed to the collective future is at the core of our belief.
Dan continued: “My business partner Andy and I were thinking about an exit strategy and were convinced that we wanted to protect the employees, culture and independence of 2LK after 30 years of private ownership, which meant that any other course of action simply would not have been possible. appropriate. This is a positive and progressive step in our story and good news for our team and our customers.”