Nottinghamshire Law Firm Fidler & Pepper has announced the business has transitioned to an employee ownership trust (EOT) in a move it says is “designed to protect the legacy, values, culture and independence that have shaped the firm for more than a century”.
An EOT is a business structure in which a company is owned by its employees through a trust placing greater ownership into the hands of the people delivering the service. The firm joins a growing list of law firms who have adopted employee ownership models, including Cheshire-based Oliver & Co and Myerson, and Midlands firm Talbots, as part of future planning and long-term stability.
Mark Slade, CTO, chairman and director at Fidler & Pepper, said: “We’re incredibly proud of what has been built here over many years. This business began with a vision from our father, who believed that if you worked hard, treated people well and stayed true to your values, you could create something that lasted.”
“My brother Matt and I grew up seeing the commitment, the responsibility and the care that went into building the firm. Over time, it has become far bigger than any one person or family. It has become a team, a culture and a place where people build careers, support each other and achieve great things together.”
“Moving to an Employee Ownership Trust allows us to protect that legacy. It ensures the people who have helped build this business remain at its heart, and that the values that shaped the firm continue long into the future, long after any one individual steps away.”
Under the new structure, the firm’s 170 employees who contribute to the firm’s success will share in its future. For many within the firm, it represents not just a structural change, but recognition of the contribution they have made to its success, added Slade.
Established in 1888, Fidler & Pepper has grown to cover four offices in North Nottinghamshire. The firm supports both local and national clients with specialist legal services including Conveyancing, remortgage, wills, trusts, lasting powers of attorney and probate. While a number of Solicitors Regulation Authority (SRA)-regulated firms have adopted the EOT model in recent years, the move represents an important milestone within the conveyancing sector where it is the first CLC regulated firm to transition to an Employee Ownership Trust.
Matt Slade, CEO, added: “While this decision honours the past, it is equally about the future. Transitioning to an Employee Ownership Trust gives us a strong and sustainable foundation for the years ahead.”
“It allows us to build on everything that has already been created while ensuring the firm remains independent, ambitious and true to its values. Most importantly, it recognises that the success of Fidler & Pepper has always come from its people.
“We believe employee ownership will support our continued growth, enable us to better serve our clients, and create opportunities for the talented people who make this firm what it is. This is about giving something back to the people who have helped build Fidler & Pepper into what it is today.
“We remain committed to being a trusted nationwide provider of lifetime legal services. At the same time, we keep focused on building and maintaining a workplace where our people can develop and thrive, and on remaining a local employer of choice. We look forward to continuing to support our clients, employees and communities for many years to come.”
