Stockport market research agency becomes employee-owned
We supported Stockport-based market research agency DJS Research in becoming an employee-owned business.
Specialising in qualitative and quantitative research services, the £6.3m turnover agency has established a new employee ownership trust (EOT), which will own the majority of the business.
The deal secures the future independence of the firm, which was founded in 2001. Directors Daniel and Ali Sims will remain with DJS as part of the agency’s long-term succession plan, having sold their majority share. The EOT will see the agency’s team of experienced research directors continue to look after a global client-base spanning private, public and charity sectors, as it reshapes its senior leadership team for the future.
DJS was advised by our specialist employee ownership team, led by partner Stephen Hadlow, and accountancy firm Clarke Nicklin, led by managing partner and head of corporate finance Andrew Baggott.
Stephen Hadlow said:
“Employee-ownership deals are a fantastic option for passionate business owners who don’t want to put the independence of their business at risk for their employees.
“As companies emerge from the pandemic and seek to reward their hard-working teams, employee ownership has become an increasingly attractive and sustainable exit route for owner-managed firms. The DJS deal reflects a landscape where business owners like Danny and Ali are looking to the future, wanting to ensure security for their colleagues and the company cultures they’ve worked so hard to build. We wish them every success for the future.”
Daniel Sims, owner and chairman at DJS Research, said:
“We are so proud of the company we have created and how it has grown and evolved, and it’s really important that we protect its legacy and ensure it remains independent for many years to come. Employee ownership is a way to do this; it’s progressive and forward-thinking and offers a way to give back to our incredible and talented workforce who have made DJS Research everything it is today.
“The company is going from strength-to-strength and our 20th anniversary is the perfect time to start our exciting new chapter. We will continue to listen to our staff even more than before and deliver excellent research, while showing our clients the value of an employee-owned company through everything we do.”
Andrew Baggott, managing partner and corporate finance head at Clarke Nicklin, added: “Having worked with the business and Danny and Ali for seven years as their business has grown and developed, I am delighted that Danny and Ali’s vision has come to fruition in becoming employee owned. This route for themselves and for the company was a perfect fit with their strategy, and for the future of the business and all associated with it.”
According to the latest figures from the Employee Ownership Association, there are over 700 employee-owned businesses in the UK, with growth accelerating in the past 12 months.