Bristol-based temporary generator hire firm Power Electrics has become the latest in the city to transition from privately owned to an Employee Ownership Trust (EOT).
The firm, which has grown from a small yard in 1963 to operating the UK’s largest generator transport fleets, said the move marked a significant milestone in its long-standing commitment to its people, customers and suppliers. 
The new EOT structure would position the company for continued success and growth while safeguarding its core values, brand reputation and culture, it added.
Employees now had a stable and resilient future, the firm, which operates from its head office in Warmley and regional depots in Milton Keynes, Bridgend, Southampton and Wolverhampton, said.
In turn this would help the company continue to grow.
Power Electrics has a fleet of more than 2,500 generators and 50-plus vehicles providing sustainable temporary power, diesel generator hire, generator repair and servicing, fuel management and parts.
Employee ownership has more than doubled in the past five years with more than 1,300 across the UK businesses now owned by their staff through an EOT.
Bristol firms to make the move range from animators Aardman, digital agency Torchbox and Sawday’s, the specialist holiday accommodation firm, to communications and marketing firm Purplefish and renewable energy specialist Solarsense.
Power Electrics Andy Pullin CEO said: “Our employees have always been the driving force behind Power Electrics’ success.
“By becoming an employee-owned business, we are creating a more secure future for everyone in the company.
“This step not only rewards the dedication of our employees but also inspires greater innovation and commitment moving forward.”
Power Electrics’ shareholders were advised by international law firm Osborne Clarke and the corporate finance team at accountancy group KPMG.
Osborne Clarke partner and head of incentives Michael Carter said: “We were delighted to be part of helping Power Electrics move to become owned by the EOT and secure the future for all stakeholders in Power Electrics.”
