The founder of a Manchester-headquartered communications firm has stepped down after it completed its move to became an employee-owned business.
Jim Smith, who established Clear Marketing in 2002, has left the company following the move which had originally planned to be finalised in 2023.
However, a "strong three years" has seen the firm "exceed all targets", allowing the transaction to be agreed two years ahead of schedule.
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Clear Marketing employees now have 100% equity of the business, after the deal was first announced in June 2019.
Mr Smith said: "Following a strategic review of the business in 2008 we, the directors, knew it would never be in the interest of the employees and our long-standing clients for me to hand over the business to another agency or investor.
"The agency is incredibly proud of its relationships, many of which span over ten years; it was clear that the Employee Ownership Trust approach was the right approach for all, providing security for the team and clients with the continuity with which they are accustomed.
"I couldn’t be any prouder of what the business has achieved over the last two decades, attracting blue chip brands and most importantly retaining them.
"As Clear Marketing’s twentieth anniversary fast approaches it feels like a fitting time for me to step down. It is with immense pleasure that I hand over the reins to Gemma, Elaine and Martin, under whom I know the business will continue to flourish."
The agreement was structured by Employee Ownership Trust (EOT) specialist Baxendale and overseen by the management team, led by managing director Gemma Stirling, client services manager Elaine Cunningham, financial director Martin Burrill and account director Marie Mellon.
Clear Marketing's clients include the likes of Pets at Home, Hoover and Topps Tiles.
Gemma Stirling added: "The business’s strong and established retained client relationships have undoubtedly helped us weather the Covid storm and ensured that we’ve maintained profitability.
"Our original timeframe for completing the sale was five years, so to do it in less than three is a really proud moment.
"It’s a really exciting time for us going into 2022 as we fully embrace our employee ownership ethos and put plans in place to ensure we’re around for another twenty years to come. It’s a privilege to be driving the new Clear into the next stage of our development."
