DB3 see in the New Year under employee ownership
January 9 2023
DB3 Group, the parent firm of DB3 Architecture & Design, has marked 140 years in practice by transitioning to an employee ownership trust to allow for succession within the business.
The changes, in place since December, see the existing board remain in place with former majority shareholder Alistair Hamilton remaining as group chairman. A trust board will sit in parallel whose members are elected by over 100 staff to serve as their representatives.
Nathan McNamara, in the newly created role of group CEO, said: “Our team are what makes us so successful, and after two strong years of growth we are pleased to be able to make this change and recognise the contribution that every employee makes to our success. Aside from setting up the trust, the team and board remain the same. It will be business as usual with our focus around the ambition to grow, develop new services and support our clients for years to come.”
Founded in 1883 the Leeds headquartered architecture practice now has seven studios across the UK, including an office in Glasgow.
The shift to majority ownership by an employee ownership trust follows a similar move by Hoskins Architects last year.