Employee Ownership at 4homes ltd

4homes limited – Sidmouth’s kitchen, bathroom and interior design specialists are pleased to announce a momentous development. This family-founded business is now under the ownership of the company’s employees as part of an Employee Ownership Trust.

As of 13th September 2022 the 4homes employees became 100% shareholders of the company. 4homes ltd employees will now have a direct stake in the success of the company, and this structure will help the company attract and retain the best talent in the industry. The employee-owned model has been proven to drive greater innovation, productivity, and employee satisfaction, which, in turn, leads to better business outcomes.

“Employee ownership is an exciting and innovative way of doing business, and we are thrilled to be joining the growing number of employee-owned companies in the UK.” said Mike Parrish , MD of 4homes ltd. “We believe that this transition will enhance our company’s commitment to delivering exceptional service to our clients and will help us build a more sustainable future.”

Alan Parrish, the founder of 4homes, generously gifted his shares to the trust. His son, Mike Parrish, remains as Managing Director, working alongside new company directors Jasmine Taylor (Design Director) and Andy Brown (Projects Director). Together with employee representatives from the showroom and site teams, Mike also takes a seat on the trust board alongside Andrew Scull as independent trustee Chairman. Andrew has a background in corporate governance having spent many years at board level positions in the chemical industry and service sector.

4homes ltd has served the East Devon community for over 39 years – with their 40th anniversary coming up this summer ! Their employee ownership trust will maintain 4homes well-established reputation as a stalwart of Sidmouth High Street. Mike and Sally Parrish wished to uphold the company’s independence and remain loyal to their dedicated workforce – several of whom have been with 4homes for over a decade.

“Moving to Employee Ownership ensures the values and ethos of the company will be retained within the independent structure of the company and under the guidance of the people who know the business best – it’s dedicated employees. It protects the jobs that have been built up over the past 40 years and ensures all employees have true ownership and pride in the work they undertake.” said Mike Parrish

Mike and Sally enlisted the help of Ewan Hall at Baxendale Employee Ownership as advisors in the transition from private ownership to that of an Employee Ownership Trust. They offered a one-stop solution for all the necessary legal and commercial issues and were able to assist in creating the financial, legal and governance structures required to move the business into employee ownership.

About 4homes ltd

In 1983, Alan and Patricia Parrish originally established The Tile & Pine shop, on Mill Street, selling wall and floor tiles, as well as pine furniture. Three years later, they also purchased 12-14 High Street, adding kitchen design and installation to the services offered. By 2002, after extensive renovation works to the rear of the High Street, the two shops merged and became established as 4homes. At this time, the business passed into the hands of Alan and Patricia’s eldest son, Mike, and his wife Sally. Under their direction, the showroom evolved into the interior specialists it is today, with a focus on the refurbishment of kitchens, bathrooms and bedrooms. Over the last 20 years, with the help of their talented designers, showroom staff and skilled installation teams, the business has flourished and continues to grow year by year.

A bright future …..

The transition to employee ownership is a significant milestone for 4homes ltd, and the company is committed to ensuring a smooth and seamless transition for all stakeholders. The company is confident that this model will help the company continue to deliver high-quality services to its clients while also promoting greater employee engagement and ownership.

For more information about 4homes ltd, visit their website at www.4homes.ltd.uk