Radix employees take over the company

By Radix - 13th January 2022

Penryn-based copywriting agency Radix Communications is now owned by its employees, after setting up an Employee Ownership Trust (EOT).

Founded in 2007, Radix has risen to become the UK’s leading specialist business-to-business copywriting agency, writing marketing content for technology companies worldwide. Directors Sophie Reynolds and David McGuire have sold 100% of the company’s shares to the new trust, which will hold them for the benefit of all employees.

Reynolds said: “As Radix continued to grow, it became clear that our hardworking people deserved to benefit more directly from their success. We’re one team, and this new structure feels like a good reflection of that. Now we’re ready for the next step of the journey.”

Reynolds and McGuire will stay responsible for running the day-to-day business while, as sole shareholder, the trust will give employees a powerful say in the strategic direction of the company. It will also be able to pay staff bonuses based on profits.

The two directors will be joined on the board of the new trustee company by two elected employees, Nick Prescott and Ben Clarke. SouthWestFD regional director and long-time Radix advisor Jeremy Kirk completes the board.

Employee trustee director Ben Clarke said: “We’ve always known that Radix values our perspectives as employees, but with the creation of the trust, it really feels like we have an even greater stake in the company’s direction and success. Nick and I are excited to be representing the rest of the team.”

Documents to establish the trust and complete the transfer, prepared by Cornish law firm Murrell Associates, signed on Friday 21st December. Lang Bennetts were also key advisors on the transaction.

As Radix continued to grow, it became clear that our hardworking people deserved to benefit more directly from their success.

- Sophie Reynolds, Radix
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