East Yorkshire engineering consultancy switches to employee ownership

A successful engineering design consultancy is now in the hands of its loyal and hardworking employees.

Brough-based Jesmond Engineering Ltd, which tackles highly complex engineering challenges for safety-critical sectors of industry, has transitioned to the fast-growing employee ownership trust (EOT) model, electing team member Patrick Kelly as employee representative.

Set up in 2004, Jesmond provides engineering and bespoke software services to a regional, national and international client base. It has an established presence in the aerospace sector and a rapidly growing reputation for its work in biotechnology, chemicals and renewable energy.

Its founder Simon Walker said the move marked an exciting milestone. “From day one, nearly 21 years ago, we have been a highly motivated and dedicated team, so the democratic EOT model is ideal as it bolsters and rewards the commitment shown by all. 

“All staff are now participants in a structure that helps to secure the future of the company of which we are proud.”

Patrick Kelly said that he felt privileged to have been chosen as the employee representative. 

“Jesmond supports clients to innovate through our breadth of industry experience and diverse engineering skills. 

“Our teamwork has been vital to the successful outcome of client projects, and we all believe that the EOT structure will build on this, as well as giving us all the opportunity to benefit from Jesmond’s success.”

Jesmond has world-class expertise in computational fluid dynamics and other computer-based mathematical modelling techniques such as structural and mechanical analysis and finite element modelling. Its computational fluid dynamics skills can be used to model flows of gases and liquids as well as transfer of heat, whilst its structural analysis expertise simulates the effects of impact, vibration, shock loading, fatigue, and crack growth.

There are now around 2,250 UK companies that have switched to an EOT, with benefits around succession planning, employee engagement and business performance. 

The UK government established Employee Ownership Trusts in 2014 as a way for employees to indirectly own a company, with the trust holding shares in the company for their long-term benefit.