Attraction Tickets announces move to employee ownership
JGA and Telos Partners support Attraction Tickets in their transition to EO
We are delighted to share today’s announcement that Attraction Tickets – the UK’s number one seller of theme park tickets and theme park hotels for attractions such as Walt Disney World, Universal Orlando Resort and Disneyland Paris – is transitioning to an Employee Ownership Trust (EOT).
Oliver Brendon with new EO Trust Board Chair Juliet Thorburn (left) and Attraction Tickets’ Head of People and Happiness Karen Court
The move makes Attraction Tickets the largest UK travel company in history to take this step, after Oliver Brendon – Attraction Tickets’ CEO and Founder – and his fellow shareholders sold their shares, which the EOT will hold for the benefit of the employees.
Describing employee ownership as ‘one of the most equitable forms of capitalism, whereby value is shared amongst those who work hard to create it’, Oliver said: ‘Today we have concluded a transaction that will reward the business’s most vital stakeholders – its employees.
‘This is an important milestone for the company I started 23 years ago, and we are all excited about future growth.’
Under the new structure, Attraction Tickets’ 128 full-time employees will share in EOT completion bonuses worth more than £1m – with pay-outs based on years of service.
The EO Trust board will be chaired by Juliet Thorburn of Scott Bader (itself employee-owned), while Oliver and his management team will continue to manage the Attraction Tickets business.
Supporting the transition to employee ownership
‘It’s been a pleasure to work with Oliver [Brendon] to understand the incredible business that he and the team at Attraction Tickets have built’
Jeremy Gadd, JGA’s founder and MD
JGA’s founder and MD Jeremy Gadd and Telos Partners’ Consultant Alex Bloom have been working alongside Oliver and his senior team since December 2024, supporting them to prepare for this week’s transition to employee ownership.
Both were also at Attraction Tickets’ London offices for the internal announcement to all staff last week, at which Oliver shared the exciting news.
‘It’s been a pleasure to work with Oliver to understand the incredible business that he and the team at Attraction Tickets have built – and to ensure that continues for years to come,’ Jeremy says.
‘Their commitment to ensure their new ownership underpins their belief in ‘adding happiness’ has been exemplary and reinforces the thought that employee ownership is a force for good.’
Alex agrees, adding: ‘Jeremy and I have been delighted to work with the team as they have prepared to become employee-owned. We’d both like to congratulate Oliver and everyone at Attraction Tickets for the way in which they have taken this first step to becoming successfully employee-owned.’
About Attraction Ticket’s employee ownership transaction
JGA advised Attraction Tickets on the cultural aspects of their transition to employee ownership. Legal advice was provided by Fieldfisher and the independent company valuation was conducted by Travel Trade Consultancy.
To find out more about Attraction Tickets, visit their website here.
eoa conference 2024 – our key takeaways
The JGA and Telos team on our eoa conference stand
‘Not just the biggest but by far the best one yet.’
This was the verdict of our MD Jeremy Gadd after a jam-packed two days focused on all things ‘employee ownership’ at the eoa conference 2024.
‘Both the team at JGA and our Telos Partners colleagues found this year’s eoa conference a really engaging event with so many thought-provoking discussions,’ says Jeremy.
The conference (held in Telford 26-27 November) was the first at which JGA and Telos had Platinum exhibited together, following our decision to merge and November’s launch of our new joint services offer for businesses that are employee-owned.
Sharing our experience of supporting successful EO
Our combined JGA and Telos team was kept busy, not only welcoming visitors to our stand but also running three interactive EO workshops on building and maintaining an effective EO culture, EO leadership behaviours and understanding your EO governance roles.
All topics are key to unlocking the opportunities created by being successfully employee-owned.
Telos’s Adam Campbell and Alex Bloom also hosted a breakout session on how to plan your EO leadership succession, with first-hand experience of the journey provided by Chris McDermott, CEO of The 1:1 Diet by Cambridge Weight Plan.
Plus our teams helped to facilitate other conference sessions and, like many others, enjoyed learning from the keynote speeches from guest speakers such as Javier Bajer and main stage addresses from the eoa’s James de le Vigne.
They also got into party mood – and their party outfits! – for the conference’s gala dinner which included the eoa’s UK Employee Ownership Awards 2024.
We were delighted that several of the employee-owned businesses that JGA and/or Telos have supported on their EO journey received awards, including Shaw Healthcare which was named Employee-owned Business of the Year 2024 plus Riverford Organics and Gripple.
Contributing to the buzz around employee ownership
JGA’s Lisa Fryer arrives at the conference
‘There was a good buzz over the two days, with the largest number of delegates to date (more than 850), a lot of new faces and some familiar specialists who have been providing services and support to the sector for a number of years,’ says JGA Associate Lisa Fryer.
‘It was great to see the mix and be part of the networking opportunities, as well as join Jeremy to deliver our workshop on understanding your EO governance roles.
‘And the venue was good, with everything over two floors making the delegates’ life easier and the transition between various sessions swift and easy.’
Forging new employee ownership connections
‘We had some wonderful conversations, excellently facilitated by the eoa whose team worked tirelessly to make this such a positive two days,’ Jeremy confirms.
‘We were also delighted to support the eoa with the launch of the EOQ tool.’
The EOQ tool is part of the Great EO Framework – developed by the eoa using insights from the EO Knowledge programme with the support of Telos. Read about the Great EO Framework here.
From left: Telos’s Coralie Hooper and Alex Bloom, with the eoa’s Yogita Johnston
‘The EOQ promises to be a game-changer for the employee-owned sector,’ Jeremy says.
Catching up with familiar faces while connecting with many who were new to employee ownership and/or at their first eoa conference was a particular highlight for our teams.
‘It was great to see so many new faces who were really committed to bringing employee ownership to life in the way that works best for them,’ Jeremy concludes.
‘We’re now looking forward to 2025 and continuing the conversations we started with so many people – supported by JGA and Telos’s new joint EO services offer, which we were excited to launch last month.’
Want to know how JGA and Telos can help you make EO work for your leaders, business, employee owners and trustees? Get in touch here.
Unlock your EO potential at our eoa conference workshops
Going to the eoa conference? We wouldn’t miss it for the world. Two days of EO-themed keynote speeches, workshops, breakout sessions and more, all under one roof 26-27 November 2024… plus this year we’ll be joint Platinum exhibitors with Telos Partners for the first time.
But that’s not all because our teams will also be delivering THREE interactive employee ownership workshops and a breakout session while we’re there.
Sound useful? Read more about our sessions and book your place below.
Session 1: Building and Maintaining your Employee Ownership Culture
When times are tough it’s easy to think your employee ownership culture doesn’t matter – to see it as a ‘nice to have’ add-on for when times are good. In fact, times like these are exactly when it matters most.
In this workshop, you’ll explore the core elements of a successful employee-owned culture and learn how to balance the founder’s legacy with the next generation’s values and needs.
‘I'm looking forward to sharing what it means to bring an employee ownership culture to life and embed it in your company in a way that every employee owner can connect with,’ says JGA’s Corrine Thomas. Corrine will be delivering the session with Telos’s Verity McVey and JGA’s Jeremy Gadd.
When: 1-2pm, Tuesday 25 November
Who for: Early years + mature employee-owned businesses
Find out more and book your place here
Session 2: Developing Great EO Leadership Behaviours
It’s not rocket science. Effective leadership is essential to the success of any business, regardless of model, but leading employee owners requires a slightly different approach.
In this workshop, you’ll learn more about the unique nature of leading an employee-owned business, including strategies for unlocking your own potential, fostering a supportive environment and inspiring your fellow employee owners to achieve.
‘We’re looking forward to facilitating this insightful, interactive session,’ says Telos’s Alex Bloom, who’ll be delivering the workshop with his colleague Coralie Hooper. ‘We’ll explore how to unlock your potential to be a leader and develop a mindset that will benefit you, your team and your organisation.’
When: 1-2pm, Tuesday 25 November
Who for: Early years + mature employee-owned businesses
Find out more and book your place here
Session 3: The Road to Leadership Succession
Telos’s packed session on leadership succession at the eoa conference 2023
Leadership succession is a key challenge for every business, and not something to do ‘on the hoof’. Yet that’s how the process unfolds in many companies today – for good reason: when things are tight, finding the resources to plan a smooth leadership succession is hard.
In this session, you’ll have the chance to focus on leadership succession. You’ll learn how to deal with ‘backseat drivers’ (and spot if you are one), what’s involved in stepping back and up, and how to plan for leadership transitions over the next three to five years.
‘Leadership succession is an essential component of the successful transition to employee ownership,’ says Telos’s Adam Campbell. ‘It’s a winding road with some key elements that appear to enable success'.
Adam will deliver this session with Telos’s Alex Bloom and Chris McDermott, CEO of The 1:1 Diet by Cambridge Weight Plan, who’ll share his first-hand experience of EO leadership succession in his business. The session will also draw on the eoa’s ‘Road to Leadership Succession’ research and EO Framework.
When: 11.15am to 12.15pm, Wednesday 27 November
Who for: Everyone – all stages of employee ownership
Find out more and book your place here
Session 4: Understanding Your Governance Roles: What's my Job?
The session will be delivered by JGA’s MD Jeremy Gadd and Associate Lisa Fryer, pictured here at a previous eoa conference
Sound governance is the bedrock of every successful business.
But when you’re employee-owned it’s especially important to establish clear structures, accountability, channels for influence and knowledge-sharing so your business can maximise the value of its EO.
In this workshop, you’ll learn how to define, distinguish and create clear ‘job specs’ for your key governance roles, ranging from Employee Trustee to Employee Council Rep. Plus how to confidently wear the right ‘hat’ at the right time and fill each post with the right person for that EO governance role.
‘Governance might have a reputation for being a bit dull,’ says JGA’s Lisa Fryer, ‘but it’s simply good organisation. It’s about having sound structures in place to ensure your business can do what it needs to do.’
Lisa will be running this workshop with JGA’s Jeremy Gadd. Both will draw on their first-hand experience of working in and with employee-owned businesses to demystify the governance of EO.
When: 1-1.45pm, Wednesday 27 November
Who for: Everyone. Regardless of stage, size, or sector – or whether you’re already EO, just transitioning, or thinking of making the move – creating job descriptions that truly align with your governance roles is crucial.
Find out more and book your place here
Want to know how JGA and Telos can support your employee-owned business? Get in touch here.
Why JGA and Telos are going Platinum at the eoa conference 2024
It’s big, it’s bold and it’s in Telford (new venue!) from 26 to 27 November – yes, the final countdown to the 2024 eoa conference has begun.
At JGA, we’re confident this will be the eoa’s best conference yet.
Why? Because it’s been a full-on year for the EO sector – and an equally full-on year for us.
We’ve progressed JGA’s merger with Telos Partners and have just launched our new joint service offer for clients who are exploring or transitioning to employee ownership (EO) – or whose business is already employee-owned.
So, if you’re going to the eoa conference and want to make employee ownership work for your business, leaders, employee owners and trustees, come and meet our team.
You’ll find us in the Telford International Centre’s eoa exhibition space...
5 reasons we’re excited about the eoa conference 2024
1. Stronger together – on our exhibition stand
Some of the team who’ve worked on our merger and new EO services offer
And not just any stand… because JGA and Telos are going Platinum together this year for the first time!
At JGA, we’ve already exhibited at the eoa conference, being Platinum in 2022 and 2023 and headline co-sponsors of its fully-virtual conference in 2021.
But exhibiting with Telos is new and follows our decision to merge.
Whether you're exploring employee ownership as a succession option, just starting your employee ownership journey or want to deepen your impact as a mature EO business, visit our stand.
2. It’s official – our new EO proposition is live
We’ve invested time, thought, energy and care and on 4 November we pressed the button: JGA and Telos’s new joint EO proposition is now officially live – and making its eoa conference debut this year.
The value we can create together has driven our decision to merge, strengthening our ability to use our combined wealth of business and employee ownership experience to benefit clients. Whatever their company’s size, sector, challenge or change – whatever their stage of EO.
Interested? Read our joint proposition blog here and/or visit our stand at the eoa conference to learn more.
3. Sharing what we’ve learned – at three EO workshops AND a breakout session
A packed Telos session at the eoa conference 2023
The eoa conference is always a busy two days. This year looks set to be even busier because Telos and JGA will be running not one or two, but three EO workshops and a breakout session.
We love being able to share the practical experience and insight we’ve gained working in and alongside more than 100 employee-owned businesses.
In Telford, Jeremy, Adam and our team will spotlight key EO topics ranging from how to build and maintain an EO culture in your business to Great EO leadership behaviours, the road to leadership succession and understanding your governance roles.
Find out more about each session and book your place here.
4. The packed eoa conference agenda – what will you choose?
Familiar faces returning to the eoa conference this year
Could the eoa squeeze any more insightful employee ownership workshops, breakout sessions, keynote speeches and awards into two days? We don’t think so.
But we – and you – can only be in one place at once so it makes sense to plan ahead.
As well as JGA and Telos’s own sessions (see above – unmissable, of course!), we’re intrigued by the keynote address from international cultural architect Javier Bajer, as well as the EO stories set to be shared by businesses such as Gripple – plus Stephens Scown’s very own Sam Moles, winner of 2023’s eoa Employee Owner of the Year award.
There’s even a new compere: BBC News’ Maryam Moshiri. Conferences don’t get more exciting than this.
5. Some of our employee-owned clients are up for awards
Who doesn't love a gala dinner? Our teams join in the fun last year
Lights, camera, glitterball in position… we don’t need much excuse to get into our party outfits, especially when there’s an award ceremony involved.
Even better when it’s the eoa’s annual UK Employee Ownership Awards being announced at the conference’s gala dinner. Expect a bit of sparkle from our team.
As always, we’re excited to see who wins but also to learn more about the others who’ve entered – each EO business and employee owner adds something special to the mix. Last year JGA’s client LUC made our night when it scooped 2023’s Employee-owned Business of the Year Award.
Good luck to all 2024’s entrants. We’re ready to raise a glass to you all.
Want to know more? Visit us on our stand at the eoa conference 26-27 November 2024 or get in touch to arrange a no obligation meeting with one of our team.
Busted – 5 common myths about employee ownership
We’ve all heard them, those stubborn ‘myths’ about EO – some positive, some negative, some as old as the hills...
But one thing’s clear: none of those myths is helpful when you’re trying to decide if employee ownership (EO) is the path for you.
So if you’re a business founder/owner exploring EO as a succession plan – or you’re already on your way but feeling ‘stuck’ – how do you know what’s true?
Here, our MD Jeremy Gadd busts 5 common myths about EO.
Myth 1: It’s not about the money
Jeremy disagrees. ‘In my experience, it’s not about the money until it’s about the money,’ he says.
‘Whatever your reasons for choosing EO – however committed you are to preserving your legacy, sustaining jobs, safeguarding your culture – transitioning your company to EO is still the sale of a business by one owner to another,’ he explains. ‘It’s not a gift: it’s a legal transaction and you need to be realistic about that.’
Founder Guy Singh-Watson has been open about how he's benefitted from Riverford's sale to an EOT, alongside his philanthropic aims
Jeremy highlights the importance of getting an accurate valuation.
‘If you don’t get an accurate valuation, if your business isn’t financially sound, it won’t be able to fulfil all you need it to do because a building block of success is being honest about what you’re doing and why – with yourself, your stakeholders and your employees.
‘Successful employee ownership is about adult-to-adult relationships and honest conversations,’ he explains. ‘You’re giving people rights and responsibilities in the business they now own.
‘As a founder/owner, you can be as philanthropic as you like with the proceeds of that sale, but it’s important to recognise that your decision to transition to EO has consequences and impact. That includes the ability of your business to pay you back.’
Myth 2: Nothing will change in the business
It’s true that although your ownership model will change, your business can remain the same in the way it operates, its services/products, its people and culture.
However, Jeremy is clear that becoming employee-owned is more than a signature on a piece of paper.
‘If you want to leverage EO’s benefits and the competitive advantage it can bring, you need to enable your employee owners to take more personal responsibility for the business’s success.
‘Becoming EO affords you the opportunity to have a different conversation and gain their psychological discretionary effort.
‘It’s now a business held in trust for its employee owners, and they’ll share in ownership’s rewards. Those might be a share of the profits, as well as a greater ability to influence and participate in a business where their input makes a difference.
‘But with opportunity comes the responsibility to build that success. As founder/owner, you must create a narrative for change and bring it to life. Depending on how strong your business is in terms of purpose, culture and engagement that can be hard work, but the benefits can also be huge.’
Myth 3: Becoming employee-owned will slow the decision-making process
JGA's founder and MD Jeremy Gadd in London this year
Yes, becoming EO will change the rhythm and pace of decision-making, but (done well) the bigger picture is the benefits this can bring.
‘When you’re running your own business you can make decisions quickly,’ Jeremy explains. ‘Once you’ve become EO, leadership will still lead but it will be more accountable, so you need to be clear about how and when people can influence and be involved in the business they own.’
What will this mean in practice?
‘It means that as you come to decision-making, the process may take longer but you should make better decisions because employee owners have been more involved.
This means that the change lands better so the overall process may be shorter. It can certainly be more effective because of the realistic conversations you’ve had.’
Myth 4: Employee ownership is a good thing so everyone will ‘get’ it
In an ideal world? Yes. In the real world? Not quite.
Successful employee ownership can indeed be a force for good.
Commercially, EO businesses have been shown to be more productive and invest more in supporting employee’s wellbeing and career development, according to the eoa’s research.
‘But it’s a myth that everybody will automatically ‘get’ it,’ Jeremy says. ‘There’s no legal definition of employee ownership – you have to create your own version of it.
‘Often, when clients reach out to JGA for support, they’ll say: ‘Our people don’t get it’. When I ask what it is that their people don’t get, the reply is ‘being EO’.
‘Enabling your employee owners to understand the rights, responsibilities and rewards of EO will go a significant way to helping them ‘get it’. But you need to invest time and energy in it because this won’t happen by itself.’
Myth 5: Employee ownership only works in ‘white-collar’ businesses
Not true. Although the latest data on where EO is ‘trending’ puts the Professional Services sector on top (39%), Manufacturing (13%) and Construction (12.5%) are next in line. The wider sector is both thriving and diverse.
‘Employee ownership can work in all types of business, not just those that are consultancy or office-based,’ Jeremy confirms. JGA’s own client list backs this up.
Since 2015, those we have supported range from Riverford Organic Farmers and Jerba Campervans to the Rooflight Company, Pym & Wildsmith (metal finishers) and Lodge Brothers – an eighth-generation funeral services family business which became EO in January 2024.
Next steps
So that’s 5 common myths about EO successfully busted. If it’s got you thinking that EO could be the path for you, what should you do next?
Find out how we can enable you to shape, transition, embed, energise and renew the elements of EO in your business.
The Road to Succession – what you and your EO business need to know
How organised are you when it comes to succession planning? If you’re a founder/owner who has chosen to transition your business to EO or an MD picking up the reins, a new report by the Employee Ownership Association is an essential read for you.
‘The Road to Succession: Exploring Leadership Succession in EO businesses’ spotlights what works – and what doesn’t. It also reveals the common steps that lead businesses to a successful transition to employee ownership.
Understanding the journey
JGA was delighted to collaborate with Telos Partners to support ‘The Road to Succession’ by carrying out the separate interviews with founders and successors on which the report is based.
In all, our team and Telos spoke confidentially and in depth with founders and leaders from 25 employee-owned businesses (all EOA members) on behalf of the EOA.
Our focus was clear: to discover the common themes that apply to a successful transition of leadership, when the ownership of the business is in transition too.
How is this different in an EO business? What does it look/feel like through the founder’s and successor’s eyes? All vitally important to understand when so much is at stake for all involved – from the founder/owner and leaders to the wider business, customers and employees.
Learning from experienced hands
So what’s in the report? In short, practical insight and guidance for those planning, or undergoing, leadership succession in their own EO business.
This includes top tips from founders and MDs with lived experience of the journey, ranging from getting started early and setting a realistic timeline to not being ‘afraid’ to ask for support.
‘The journey of leadership succession in an EO business is filled with unique advantages, opportunities and challenges,’ says the EOA’s James de le Vigne. ‘Whether you are a founder, successor, employee owner, customer or supplier to an EO business, this report will help you address the questions and uncertainties that [can] arise.’
Equipping your successors to succeed
Our MD Jeremy Gadd agrees. ‘This has been an interesting project for the JGA team to be involved in, and we’ve enjoyed helping to pull the report together with the team at Telos Partners.’ he says.
‘Having supported many businesses to navigate the challenges of EO, it was a privilege to take time out, sit down and listen to their stories… I thank [all those who took part] for the honesty they brought to each of the conversations we had’
Jeremy Gadd, JGA’s founder and MD
‘Having supported many businesses to navigate the challenges of EO, it was a privilege to take time out, sit down and listen to their stories of success and shortfall. I thank all the founders and successors who took part for the honesty they brought to each of the conversations we had.’
And what about the result of all those conversations? Jeremy is impressed, describing the output of the ‘Road to Succession’ project as ‘invaluable’.
‘It highlights routes to success, mapping out potential sources of support to help others achieve positive outcomes,’ he explains. ‘I’d recommend this report to any founder or MD who’s leading an employee-owned business today.’
Want to know more?
One of the themes to emerge from ‘The Road to Succession’ is that a successful succession comes at the end of a long road.
However, learning from those who have done it is one way to give your leadership successors the best possible start on the journey – and equip them to navigate the challenges that will arise. To find out more and get your copy, follow the links below.
Download the EOA’s ‘Road to Succession’ report here.
To find out how JGA can support your EO business’s succession planning with our transition, people and governance services, get in touch.