Employees of investment consultancy firm ARC have completed the acquisition of a majority stake in the business.
The largest shareholder in the business will now be an employee benefit trust.
Arthur Labatt, who became an investor in the business in 2014, will now hold a minority stake in the firm.
“During my period of involvement I became convinced that ARC’s businesses and its standards of service to its clients would be considerably enhanced if there were substantial employee ownership. With a solid financial base and sustainable revenue growth across multiple jurisdictions, the time is now right for the broad enfranchisement of senior management to provide stability and security for both ARC employees and ARC clients,” Labatt stated.
Commenting on the restructuring, ARC managing director Graham Harrison said: “It is a fantastic result to be able to reorganise ARC to achieve broad equity ownership by senior management.”