Roch Valley, a leading name in the dancewear sector, has embraced a new future by transitioning to employee ownership.
The Heywood-based company is now collectively owned by its dedicated employees, marking a significant shift towards inclusive business practices.
Transition to Employee Ownership
Roch Valley, a prominent dancewear manufacturer in Heywood, has embraced a transformative change by transitioning to an Employee Ownership Trust (EOT). The shift ensures that the company is now collectively owned by its 74 employees. This move was supported through strategic alliances with Barclays Corporate Banking, who provided debt financing, Mills & Reeve for legal and tax support, and Initium Corporate Finance for transaction advisory services.
Founded in 1980, Roch Valley has established a significant presence in the dancewear industry with its operations extending to a site in Oldham. Known for its extensive range of dancewear, shoes, and accessories, the company has developed a reputation for quality and innovation. This transition to employee ownership marks a new chapter, preserving its longstanding commitment to British craftsmanship and employee involvement.
Leadership and Future Vision
The management of Roch Valley sees the transition as an opportunity to further strengthen its brand while safeguarding its core values. With Donna Golding stepping into the role of CEO and Ria O’Neill as the Financial Director, the company is well-positioned to advance its strategic goals.
Danny Doughty, the former CEO and a part of Roch Valley’s founding family, expressed his confidence in the new leadership. “I am incredibly proud of the business we’ve built over the years and am delighted to hand the reins over,” he stated. He emphasized that the choice of employee ownership was made to maintain the family-oriented culture and to ensure long-term stability and growth.
Strategic Partnerships and Support
The transition was not an isolated effort but a collaborative process involving various stakeholders. Partner Chris Ross from Mills & Reeve played a pivotal role in advising the shareholders throughout the transition.
This significant change was also facilitated by Initium Corporate Finance, an employee-owned business itself. Their involvement underscores a symbiotic relationship that reflects the shared values and vision for employee-led success.
Furthermore, asset-based lending from Barclays Corporate Banking, Lancashire and Cumbria, was instrumental in ensuring the financial viability of the transition, highlighting the trust and confidence external partners have in Roch Valley’s future.
Employee Empowerment and Ownership Benefits
The decision to move towards employee ownership is not merely symbolic but serves as a commitment to strengthening the company’s internal community. Every employee now possesses a stake in Roch Valley’s future, fostering a sense of pride and motivation that is expected to drive continued success.
Employee ownership has been associated with numerous benefits, including increased productivity, improved employee satisfaction, and a greater alignment of interests between staff and the business. This model ensures that the value generated by the company is shared among those who contribute to its success.
Roch Valley’s transition offers a compelling case study for other businesses considering similar paths, illustrating how employee ownership can be effectively implemented to sustain legacy and drive innovation.
The Zone: A Technical Leap
Under the Roch Valley brand, the company has not only sustained its reputation in traditional dancewear but has also ventured into the development of premium technical gymnastics garments known as The Zone. This label exemplifies the company’s innovative spirit and dedication to quality.
The Zone represents a cutting-edge approach to gymnastics apparel, offering advanced features and designs tailored to meet the demands of competitive gymnasts. This focus on innovation aligns with Roch Valley’s broader strategy to enhance its product offerings while maintaining its dedication to quality.
The inclusion of The Zone underlines Roch Valley’s commitment to diversification and its ability to adapt to evolving market dynamics, ensuring its competitive edge in the athletic apparel industry.
Preserving Legacy and Culture
Throughout its history, Roch Valley has nurtured a culture of togetherness and familial ties. By becoming employee-owned, the company aims to solidify this culture indefinitely, ensuring that every member is invested in the shared vision and success.
This move is more than a business decision; it’s an embrace of the values that have defined Roch Valley since its inception. The company’s leadership believes that maintaining this culture is integral to its future success and continued innovation.
Roch Valley’s journey towards employee ownership is a testament to its commitment to both its workforce and its founding principles, paving the way for sustainable growth anchored in tradition.
Conclusion and Future Outlook
The step towards employee ownership signals Roch Valley’s dedication to its people and its rich heritage. This strategic transition positions the company for long-term growth and resilience in the competitive dancewear market.
By fostering a sense of ownership among employees, Roch Valley is poised to leverage the full potential of its talented workforce, ensuring a bright and innovative future. The company is set on a course of sustainable success, with a focus on empowering its team and honouring its legacy.
Roch Valley’s move to employee ownership heralds a new era of stability and shared vision.
The company is well-equipped to continue its legacy of excellence and innovation, driven by an empowered workforce.
