Yorkshire law firm Holden Smith becomes Employee Ownership Trust
The Yorkshire and Manchester based law firm, Holden Smith, has become an employee ownership trust (EOT) to support its growth.
The company, which has offices in Huddersfield, Elland, Horsforth, Leeds, Queensbury and Manchester was founded by directors James Smith and David Bancroft in February 2019 and now employs more than 100 people. It recorded turnover of £8.5m in the financial year ended October 2024.
In a statement, the company said: “Holden Smith’s current board of directors – comprising Smith and Bancroft plus director of residential property, Ryanne Smith, and director of family law Leanne Pollard – will remain in full control of strategy and business decisions.”
A newly appointed EOT board comprises Smith, Bancroft and corporate solicitor, Rob Kelly, with conveyancing solicitor Zack Baines becoming an employee representative. An employee council under the EOT board consists of Katie Sanderson, Frances Brocklehurst and Lauren Moody.
Mr Bancroft said: “We founded Holden Smith to do things differently and becoming an employee-owned firm is a significant milestone in the firm’s journey.
“As we enter our sixth year of Holden Smith, it’s crucial for us to consider how we can achieve sustained growth and retain the exceptional talent that has helped shape our success.
“Becoming an employee ownership trust helps to secure the future of the firm while also aligning the interests of our employees with those of our senior leadership team and our long-term vision.”
Mr Smith added: “Our people have been instrumental in the level of growth we have achieved since Holden Smith was founded in 2019. We hope that by giving them a stake in the firm we can continue to foster a collaborative approach to future growth that has our team at its core and fosters a culture of shared success. Our clients are also assured that the future of the firm is not susceptible to the unpredictability of external takeovers or leadership changes.”