A new ownership status
Thanks to guidance from the international Azets advisory group, Ikonic is embarking on a remarkable endeavour.
Ikonic has always been proud of its family orientated ethos with an emphasis on putting its team members first. With this in mind Ikonic is transferring a significant 60% of its shares to an Employee Owned Trust (EOT), ensuring a financial benefit to its 90+ employees. This new chapter for Ikonic acknowledges the significant role played by the staff in shaping Ikonic into the thriving business it is today.
In an exciting move, the BSI and ISO accredited business, Ikonic’s management team, consisting of Tony Levene, Josh Goldstone, Jon Newman, and Chris Perry, is spearheading this transformative development. Headquartered in Greater Manchester, with a state-of-the-art European Distribution Centre, near Frankfurt, Ikonic Technology Ltd is poised to redefine success through employee ownership. This strategic move promises to enhance the dynamic and mutually rewarding environment.
Expressing his enthusiasm, Chris Perry, the Group Managing Director at Ikonic, remarked:
“Handing over Ikonic to our employees through the creation of the EOT marks a proud moment for us. This strategic move ensures the long-term stability of our business and supports our ambitious growth plans. We highly value the contributions of our team over the years and recognise the pivotal role everyone will play in driving our business forward. Creating an exceptional workplace is ingrained in our core principles, and we are thrilled to embark on this exciting new chapter.”
Guiding Ikonic Technology Ltd in this transformative journey was Azets, represented by Tariq Javaid, Corporate Finance Partner, Richard Weston, Corporate Finance Manager, Becky Maguire, Tax Partner, and Angela Mikola, Senior Manager. Legal advice was provided by Sarah Harrison and Brian d’Arcy of Clarion. Tariq Javaid, Corporate Finance Partner at Azets, commended Ikonic’s strong culture, unwavering values, and dedication to its people and service, stating,
“It has been a privilege to work with Chris, Jon, Josh, Tony, and the team on this transition. I am confident that Ikonic has a bright future as an employee-owned business.”
About Ikonic
Established in 1996 and formerly known as Eurosimm, a small venture with big aspirations, Ikonic has blossomed into Europe’s premier independent IT distributor. Today, we operate distribution centres in the UK and Germany, offering a comprehensive range of leading IT brands, from cutting-edge innovations to rare and end-of-line products. Additionally, Ikonic is renowned as a global supplier of refurbished IT equipment and holds the esteemed BSI 8887 certification for quality, a distinction shared by only two companies in the UK.
Who else has embraced employee ownership?
Ikonic joins other well-known brands like John Lewis, Richer Sounds, and Wilkin & Sons, the makers of ‘Tiptree’ preserves, who have successfully embraced employee ownership. The Employee Ownership Association (EOA) reveals that over 1,200 businesses have adopted this empowering model, with the sector more than doubling in the past three years. Notable recent additions to the employee ownership movement include Go Ape, the treetop adventure company, Riverford, the innovative organic vegetable box provider, and Aardman, the world-renowned animation studio behind beloved characters like Wallace & Gromit.
