The Alexir Partnership has transferred complete ownership of the business into the Alexir Partnership Employee Ownership Trust (EOT).
This change ensures that Alexir’s core values are protected and helps with productivity, morale and resilience.
With over 30 years of experience in the food packaging and contract packing industry, the Alexir Partnership has announced that it is now employee owned, which will help to ensure the continued success and growth of the company. The transition creates a real partnership amongst the 162 Alexir employees who all benefit collectively by becoming partners in the business.
The same board and management team will remain in their existing roles and Jeremy Keable (partnership managing director), has asked both Robert Davison (chairman) and Ian Davison (finance director) to remain in place to support the management team for the next two to three years, creating a seamless transition for the company.
All strategic business decisions at the Alexir Partnership will be made with the best interests of all partners, with a view to growing the value of the business for all. This also helps the business to provide long term career opportunities and employment for the local communities at the two manufacturing sites in Kent and Sussex.
Employee Ownership Trusts are a government sponsored initiative that were introduced in 2014 to encourage owners to share the future growth of their businesses more widely with their employees. Statistics show that employee owned companies are frequently more successful than conventionally owned companies. One reason for this success is that employee owned companies are more innovative by inspiring managers to go out of their way to consult, share information and give partners responsibility, especially as they have a real stake in the company.
Additionally, the Alexir Partnership is now a member of the Employee Ownership Association which is a network of over 400 member businesses. The Employee Ownership Association works closely with its members to provide insights into employee ownership and members benefit from unique networking, learning and trading opportunities across the network of diverse companies.
The Alexir Partnership has remained open and fully operational throughout the pandemic, producing packaging for the food industry and co-packing food packs for the elderly and vulnerable.
Jeremy Keable, partnership managing director, said: ‘The establishment of the Alexir Partnership EOT has enabled us to achieve the three key values we all feel strongly about. First, a fair return over time for the shareholders of Alexir, without putting undue financial stress on the business. Secondly, the Alexir Partnership EOT will enable our partners, many of whom have helped build the business over many years, to participate in the ownership of the company. Thirdly, it will help to ensure Alexir remains proudly independent.’
Robert Davison, partnership chairman, said: ‘We had to consider the future of the Alexir business as a whole. We have been approached to sell the business on numerous occasions, but we knew that this would not meet our criteria for protecting jobs and ensuring that the whole Alexir family has a future. The creation of the Alexir Partnership EOT is the best solution to ensure Alexir stays independent, keeps growing and enables all partners to reap the rewards of their hard work.’
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Alexir Partnership - http://www.alexir.co.uk
Employee Ownership Trust (EOT) - https://www.gov.uk/employee-ownership