3 days ago
- Automotive
- Business News Wales
Tredegar Vehicle Dealer Transfers Majority Ownership to Employees
David Spear Commercials, one of the UK's leading independent commercial vehicle dealers, has announced that 60% of the business has been transferred into an Employee Ownership Trust (EOT) giving its employees a majority stake in the future of the company.
Founded by David Spear in 1987, the Tredegar-based business has grown into a respected national leader in the commercial vehicle sector, supplying a wide range of vehicles to businesses across the UK.
'This company has been my life's work, built with the support of my wife Sarah, our children, and now with our son Elliot actively involved in the business,' said David Spear, founder.
'We've created something very special over the years, and I wanted to secure its future in the right way by placing it in the hands of the people who have helped make it what it is today. This move to employee ownership protects our independence, preserves our culture, and creates long-term opportunities for our team.'
The new structure ensures that the business remains locally rooted, people-led and independent while opening fresh avenues for employee engagement, financial participation, and leadership development.
David Spear Commercials will continue to operate with the same team and, it said, the same high standards and the same commitment to serving businesses across the UK.
'We want to say a heartfelt thank you to all of our customers — past and present,' added David.
'Your continued trust and loyalty have played a huge part in our journey, and we're excited to move forward with you by our side, now with a team that's more invested than ever.'
