Merlin Energy Resources Ltd. becomes employee owned company
Merlin Energy is pleased to announce that as of 1st July 2016, Merlin Energy Resources Ltd became an employee owned company, joining the ranks of other successful employee–owned organisations including John Lewis and ARUP.
The transition to employee ownership coincides with Employee Ownership (EO) Day, celebrated by organisations across the UK and championed by the Employee Ownership Association.
Merlin recognises that its employees are its most important asset and that they should be closely involved in determining their company’s future. Merlin Director, Andy Sims, commented: “This is a significant and logical development of the principles and ethics that Merlin Energy has always held to be important. It brings those who are focussed on understanding and meeting the needs of our customers into the heart of deciding on our long term goals and how to achieve them. The success of the business depends on our team and they will benefit directly from it”.
Merlin Energy’s board of directors is now responsible to the Employee Ownership Trust, representing staff rather than external or private shareholders. Neither the management team nor the composition of various teams have been changed as a result of the move.
Employee owned organisations are distinguished by their higher levels of innovation, staff engagement, stability and long term view. Furthermore, evidence shows that employee owned companies are more productive and resilient; with successive governments lending support to the sector as they recognise the benefits and opportunities that the model brings to the UK economy. Nationally, employee owned companies now account for over £30 billion of GDP annually, and the sector is growing at a rate of approximately 10% per annum.
Merlin looks forward to an exciting new phase in its development and anticipates continued growth and success.
Merlin Energy would like to thank the following organisations for helping to make employee ownership a reality:
- EOA: www.employeeownership.co.uk
- Postlethwaite Employee Ownership Lawyers: www.postlethwaiteco.com
- Capital for Colleagues: www.capitalforcolleagues.com
- Quintessa: www.quintessa.org
- PB Design and Developments Ltd: www.pbdesign.co.uk
Notes for Editors:
Merlin Energy was formed in 1998 and provides high quality geoscience and data management consultancy services to the oil and gas industry, both domestically and internationally. Its team of 17 staff is based at two offices, with the head office in Ledbury, and the data management division in Colwall, Herefordshire, UK