UK entertainment and culture communications agency Premier has been transferred by its founders and existing owners John Reiss, executive chairman, and David Willing, non-executive director, to an independent Employee Ownership Trust.
An Employee Ownership Trust enables a company to be owned by its employees. Employees must have both a financial stake in the business and a say in how it is run. The UK government introduced the Employee Ownership Trust model in 2014.
The existing leadership and management team remains in place, with Reiss and Willing continuing in their roles alongside the executive board and senior management team.
Premier was set up as a team of three in 2001 and has grown into a 175-person team in London, Manchester and Edinburgh offices, working across film, television, music, gaming, live performance, publishing, sport and influencer communications. The agency reports an annual revenue of more than £35m.
“Our successful growth reflects the strength of our team who are leaders in their field,” said Reiss. “It feels natural that the founders should transfer ownership for employees’ future benefit. This will enable us to protect the independence, culture and values that have made Premier successful, while providing a strong platform for the next chapter in our growth which includes widening our service offering over a wider geography.”
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