Twisted Automotive, the Yorkshire-based Land Rover specialist, is now owned by an Employee Owned Trust
The 35 staff members at Twisted Automotive now share collective ownership of their company. The Land Rover business, known for its Defender upgrades, is jointly owned by a new Employee Owned Trust (EOT) together with Hydro-Graphics – a hydrodipping and custom paint firm which is also part of Twisted Group.
Charles Fawcett, who founded Twisted in 2000, remains in his current role as managing director. Speaking about the ownership deal, he said: ‘It is with great pride that we enter employee ownership; a venture that recognises both my appreciation of my hardworking team and the importance of their contribution to the company’s success. Setting up an EOT scheme is a very exciting stage in the company’s history and is key to our succession planning in the wider business arena.’
What’s an EOT?
Sometimes nicknamed the ‘John Lewis model’, Employee Owned Trusts are designed to give employees a controlling interest in their business. This gives greater incentive for them to influence business decisions, bringing day-to-day benefits as well as financial rewards. Employees to do not personally own shares in the business, but the Trust operates for their benefit. When an individual sells his/her shares in a company to an EOT, the transaction does not attract Capital Gains tax.