Haines Watts supports JDDK with move to Employee Ownership Trust

Haines Watts has supported employees of Newcastle-based JDDK Architects to become owners of the practice following a 100% share transfer to an Employee Ownership Trust (EOT), alongside solicitors at Muckle LLP.  

JDDK Architects is still run by the current management team, whilst the company is owned by the EOT with its trustees making decisions which are in the “best interests” of the employees who are the beneficiaries of the trust.

The business said that it will be business as usual for its clients, contractors and fellow consultants, and JDDK Architects will be dealing with the same individuals and teams as before.

JDDK Architects said the EOT removes potential barriers to succession, ensures retention of its business ethos and values, increases the influence employees can have on the business and creates opportunities for greater reward for their skills and efforts.

Established in 1987, JDDK Architects delivers development projects across a variety of sectors. The company has worked in the housing and health sectors, particularly hospices such as St Oswald’s in Newcastle and projects for Marie Curie and Sue Ryder Care nationwide.

It has also been responsible for high-profile visitor centres, such as The Sill in Northumberland and the Sherwood Forest Visitor Centre. The practice was also one of the first organisations to set up an official four day working week in September 2021.

Nicky Watson, JDDK director, said: “Like many forward-looking organisations, we are aware of the challenges of not only increasing employee engagement but also opportunities for succession and have taken advice from many sources.

“As a very close-knit, collaborative team of creative people, this felt a natural progression for us and continues in the spirit of equality and professional innovation which is already embedded in our practice.”

Jonathan Scott, tax partner at Haines Watts added: “The move to an employee ownership trust is a really exciting next step for JDDK. Our tax team and the directors at JDDK reviewed various options regarding the future structure of the firm, and as a people focused business the evolution to an EOT seemed like the natural next step.

“We’re all really looking forward to seeing what the future holds for everyone at JDDK and will continue to support them on their journey.”