Barnfield Construction transitions to an Employee-Owned Business

Barnfield Construction Group, a longstanding client of Pierce, has successfully transitioned to an employee-owned business.

Based in Lancashire and operating predominantly across the Northwest, Barnfield is a highly regarded construction firm founded in 1976 and employs over 150 people.

Its in-house, multi-disciplinary team undertakes a wide variety of construction and development projects, reflecting the company’s commitment to quality and professional expertise.

The Pierce team, led by Nadeem Hussain, Jeremy Rowe, and Tax Manager Ben Davies, assessed the business's needs and future aspirations, offering expert advice on valuation, structuring, and taxation paving the way for a seamless transfer of the business to an Employee Ownership Trust (EOT).

Purpose-led independent law firm Brabners provided legal advice to Barnfield.

As one of the UK’s leading advisers on EOTs, the team supported several aspects of the Group's transition, including the establishment of new governance structures to recognise and support the move.

The conversion to an Employee Ownership Trust secures the business's long-term success and empowers its employees by transferring a controlling stake in the company to the trust, while the Webber family, who will continue to play a pivotal role, retains a minority interest.

This significant step positions employees at the heart of the company’s future growth, fostering a spirit of collaboration and shared success.

Tim Webber, chairman and managing director of Barnfield Group said: “The shift to Employee Ownership Trust status marks a significant milestone for us.  

"We believe that empowering our employees to become owners will not only enhance our workplace culture but drive our success as a company.  

"The Webber family will remain a vital part of the business beyond this transition and are committed to ensuring that Barnfield Construction and subsidiary Group companies continue to be leaders within the industry.”

Jenny McAndrew, spokesperson for the employees, commented: “We are all very excited about the shift to EOT.  All staff will benefit from the transition and provides them with added job security and long-term business continuity.”

Nadeem Hussein added, "We are thrilled to have supported Barnfield Construction through the transition to an Employee Ownership Trust.

"By embracing employee ownership, the company is fostering a culture of collaboration and shared purpose that will drive sustainable growth for years to come.  It’s a privilege to be part of such a forward-thinking and meaningful journey."

Mairead Platt, senior associate, Brabners said: “Barnfield has a strong, independent culture, making the company an excellent fit for employee ownership and providing an enduring legacy for the Webber family.

“We worked closely with the Barnfield team and Pierce to structure an EOT which maximises the benefits of employee ownership for the family, the business and the staff.

"EOTs are on the rise, both across the North West and nationally, and this deal is a great example of how any company, with the right expert advice, can benefit from employee ownership.”