acceptcards®, headquartered in Elland, has transitioned to an employee-owned business, with all shares now held by an Employee Ownership Trust (EOT). Founded by CEO Richard Bradley in 2005, the independent payments broker works with major financial services companies such as Handelsbanken, Metro Bank, Square, Barclaycard, Clover, Lloyds Cardnet, and WorldPay to provide tailored advice and payment solutions. This move marks a significant shift in ownership, with 14 employees set to take control of the firm through the EOT, and trustee directors David Mills, Jo Kava, and Sheenah Bond leading the way.
CEO Richard Bradley emphasized that this change signifies the next phase of the business and is an exciting time for acceptcards®. The employees, who have been crucial to the firm’s continuous growth, will now have the recognition and autonomy they deserve. The EOT ensures that the employees acquire the business, enabling them to directly impact the future strategy and growth of the company. It is worth noting that as of June 2023, the UK saw a 37% increase in the number of employee-owned businesses, with a total of 1,418 in existence.
This decision to become employee-owned comes after seven years of running a profit share scheme for its employees. This, combined with the recent transition, reflects the company’s commitment to its workforce. With a projected three-fold increase in turnover over the next three years, acceptcards® plans to expand its team by hiring six more individuals. The EOT transaction was advised by Justin Smith of Kirk Newsholme and Ewan Hall of Baxendale Employee Ownership.
