The company currently boasts a total of approximately 4,500 employee shareholders
By Ryan Smith
Howden has announced that 1,000 of its employees are investing in the company for the first time through the 2023 Internal Share Offer Scheme (ISO).
This brings the total number of Howden’s employee shareholders to approximately 4,500, in 35 of the 50 countries where the company operates. Employee shareholders represent Howden’s largest shareholder group, the company said.
Howden is the fifth largest employee-owned business in the UK.
Howden also announced that General Atlantic marked 10 years as an investor, while Caisse de dépôt et placement du Québec (CDPQ) has been an investor for five. Following the addition of HgCapital to Howden’s panel of equity partners in 2021 as part of its acquisition of A-Plan Group, all three outside investors have committed to continue investing in Howden for a further seven year.
Each owns 22% of Howden, and all three are investing in additional funding as part of the company’s recently announced £1 billion (about $1.23 billion) additional capital for the new investment.
This year’s ISO scheme also saw Howden’s charitable foundation receive £1.8 million from the sale of shares, which it will use to further charitable work including protecting people from the social and economic impacts of climate change.
“Employees from two-thirds of our existing locations in the country have joined ISO this year, with 43% of investors coming from outside the UK,” said Will Bloomer, chief corporate and legal affairs officer at Howden. “We have investors from Ireland to Indonesia and Sweden to Singapore, which shows the broad and international appeal of our ownership scheme. It is very important to us that ISO is accessible to as many of our employees as possible to join, if allowed. I am proud of the fact that 1,000 employees joined as new shareholders this year, helping to build on the success of our business.
“The scheme in part embodies our fundamental principles of friendship, trust and independence and the freedom to build a business that is owned and driven by the people who work for it,” said David Howden, CEO of the Howden Group. . “Our unique capital and employee ownership model is a key differentiator for us in attracting the best, entrepreneurial talent in the market and partnering with culturally compatible companies to drive growth. Since founding company in 1994, we invested our profits back into the business, rather than paying dividends, and will continue to do so to build the business for the next 29 years.
Is there anything to say about this story? Let us know in the comments below.
Keep up with the latest news and events
Join our mailing list, it’s free!