Directors at the consultancy, which has over 90 staff in offices across the UK and in Dublin, said it was ‘business as usual’, with the existing management structure staying in place.

Managing director Trevor Dowd, one of the founding partners, said: “We have been looking at various options for Trident’s future, looking for one that would benefit all our staff as well as one that secured our long-term success.

“We have put in place a succession plan that will see new generations at Trident continuing to support our existing clients and developing new ones based on our reputation long after myself and others have retired.”

“We think the employee ownership trust is the perfect solution and we are incredibly excited for the next chapter in the Trident story.”

He said that the trust is managed by five trustees, acting on behalf of all employees.

“I genuinely believe this is an amazing opportunity for every employee to become a part owner of the company,” he said.

The employee ownership movement has gained momentum since the Finance Act 2014 removed capital gains tax on the sale of businesses to employee trusts, offering a financially attractive and ostensibly ethical exit strategy for business owners.

Executive director Daniel Roe added: “Trident has always been a people-centred business, so when we were looking at options for the future of the company, setting up an EOT was the obvious choice. It’s always been vital to us that our staff feel a strong sense of value and belonging, and the EOT is the most tangible and practical way of us demonstrating that.”

Trident Building Consultancy was founded in 1998 and has an £8m turnover, with offices in London, Bristol, Birmingham, Leeds, Manchester, Liverpool, Dublin, Glasgow, and Edinburgh.

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