Law firm announces transition to Employee Ownership Trust as part of long-term strategy to secure future growth and reward staff
Yorkshire-based law firm Holden Smith has transitioned to an Employee Ownership Trust (EOT) as it continues its rapid growth trajectory, reporting turnover of £8.5 million for the financial year ending October 2024.
Founded in February 2019 by directors James Smith and David Bancroft, the firm has grown to a team of over 100 people across offices in Huddersfield, Elland, Horsforth, Leeds, Queensbury and Manchester.
The move to employee ownership marks a major milestone for the business, with the current board of directors – Smith, Bancroft, director of residential property Ryanne Smith, and director of family law Leanne Pollard – remaining in full control of strategy and decision-making.
A newly formed EOT board has been established, comprising Smith, Bancroft and corporate solicitor Rob Kelly. Conveyancing solicitor Zack Baines has been appointed as the firm’s first employee representative. An employee council has also been formed, made up of Katie Sanderson, Frances Brocklehurst and Lauren Moody.
Commenting on the transition, co-founder David Bancroft said, “We founded Holden Smith to do things differently, and becoming employee-owned is a major step forward in our journey. As we enter our sixth year, this move allows us to secure the long-term future of the firm, support our growth ambitions, and reward the people who have been instrumental in our success.”
James Smith added,“Our people have been at the heart of everything we’ve achieved since 2019. Giving them a stake in the business reinforces our collaborative culture and shared commitment to future growth. It also gives clients the reassurance that our independence is safeguarded and our leadership remains stable, allowing for continued long-term partnerships.”
Image provided by Holden Smith
