Jason Warren, managing director of Collins Construction
Croydon-based fit-out firm Collins Construction has become an employee ownership trust (EOT).
The seven shareholders of Collins completed the sale of the business to an EOT after considering different options for its future ownership and succession, the company announced yesterday (20 October).
Employee ownership was adopted as the structure that “best protects [Collins’] culture and values” as it marks 70 years in business, it added, saying the firm had 168 employees at the time it made the transition to an EOT.
Collins said business operations would be unchanged and the executive management team will remain in place, although non-executive director Chris Bartram has stepped down from the board.
Bartram had spent 37 years in the business, according to his LinkedIn profile.
Jason Warren (pictured), Collins Construction’s managing director, said: “We have always been fiercely proud of our independence and of the culture we have created.
“For our clients, consultants and supply-chain partners, it remains very much business as usual. The board will continue to lead the business working with its senior team to maintain the same commitment to our projects and relationships.”
Collins said it predicts an 84 per cent increase in turnover to £199m for the year to 30 June 2026. It also expects to record £6.7m in pre-tax profit, up from £2.1m in its latest accounts for the year to 30 June 2025.
Founded in 1956, Collins delivers fit-out projects across London and the South East. The firm ranked seventh in the top 10 fit-out contractors of the CN Specialist Index 2025.
The company is the latest construction firm to adopt the model, following recent moves by Quinn Construction and Gilbert-Ash.
The model has been promoted as a way to protect company culture, retain staff and avoid a sale to a third party.
However, the sector has also seen failures among employee-owned firms.
EOT-owned contractors with combined revenue of £1.3bn collapsed between 2022 and 2025, including Buckingham Group, Michael J Lonsdale and Readie Construction.
Industry advisers have warned that EOTs funded through future profit can place pressure on cashflow if payments to former owners are too aggressive.
