GPW Recruitment announced that it became an employee-owned business effective 7 November. The St Helens, Merseyside-based firm is now majority-owned by an employee ownership trust, which holds 74% of the business.

“The EOT offers a business model that recognises and rewards all staff whilst providing continuity for clients, suppliers and employees, and crucially, can be an important tool for attracting and retaining talent,” Chairman Graham Worsley said.

Traditional mergers and acquisitions can carry disruption and uncertainty, according to Worsley.

GPW was founded more than 45 years ago and provides recruitment in manufacturing, engineering, energy and construction. It has turnover of approximately £20 million and a staff of 40.

The decision to transfer the majority of shareholding to the EOT was made by Worsley, who joined the company in 1989, and his wife, Carole.