Focus Group welcomes 185 new shareholders on board
Focus Group, one of the UK’s fastest growing providers of essential business technology, is delighted to have handed shares in the company to nearly 200 of its employees.
The business, which has its headquarters in Sussex and eight regional offices across the UK, confirmed that 185 of its employees have taken the opportunity to join the Save As You Earn (SAYE) share scheme for 2021. This means that an impressive proportion - in excess of 50% of eligible staff - now hold equity in Focus Group.
In making the announcement, Chris Goodman, Co-Founder & Director of Focus Group said: “Our people have been at the heart of our success since we founded the business back in 2003 so we’re very excited to have launched My Focus Fund. The scheme gives staff the opportunity to participate in the future growth in the company and share our success financially, via share option arrangements.”
Focus Group, which received private equity backing in 2020, launched the scheme after the business announced its revenue is set to grow from £79m in 2020 to an expected £116m in 2021. Despite the impact of COVID lockdowns in the first quarter of 2021 and significant investment in people with the recruitment of over 70 new employees, the business will see EBITDA grow from £13.5m in 2020, to £18.5m in 2021.
Reflecting on what drives Focus Group’s performance, Goodman added, “It’s about creating a connected culture – a connection to our mission, our vision and values, our community and each other. I’ve always dreamt of being in a position to launch this scheme and to enable our people to share in our ongoing success.”
Published 14th December 2021