Switching to the new ownership structure on 31 July, the company transferred from the ownership of managing director Sharon Williams to a specially set-up employee trust.
Williams joined the company in 1999, swiftly progressing to managing director in 2004, and became sole owner-director in 2017. At 53, she has no plans to leave the business any time soon.
She told Printweek that employee ownership had been a long-term ambition of hers, and that the time felt right to secure the business’ future, long ahead of any potential retirement on her part.
“I didn’t want there to be any uncertainty any time a shareholder left the business – I wanted to take that away, and give more security to the team and Pia’s future,” she said.
“I’ve been working towards it for quite a few years.”
Williams said she understood that given the niche nature of the firm’s business, a trade sale might prove “virtually impossible”, despite the company’s good health.
Any sale that might take place in the event of unforeseen circumstances also faced the danger that the purchasing company might not share Pia’s values, Williams likewise noted.
The company produces a variety of accessible media for blind and partially sighted people, including printing braille, large-text print, and audio transcriptions.
Running a huge variety of braille kit, including Braillo 600 S2 and Briallo 450 S2 embossers and printing on Ricoh Pro 8310S and C5300S engines, the firm also has a recording studio for audio work.
“The team has always been really conscientious, and we’ve always managed to bring in people that fit in well with our ethos and the way we work, but you can still sense the difference,” Williams said.
“There’s a slightly different feel now: there’s even more pride, and that extra level of positivity.”
One of Pia’s employees, braille transcriber Craig Morgan, said the move into employee ownership was “brilliant”.
“This means we all get a piece of the action and can really feel like we're part of something special,” he said.
“With everyone pulling in the same direction, we can share in the success and have a say in how things are run. This change is great for our future and makes Pia an even better place to work. Here's to a bright and exciting future for all of us.”
Pia was assisted in its transition to employee ownership by law firm Darwin Gray and Cwmpas, part of Social Business Wales, a Welsh publicly-funded business advisory.
Branwen Ellis, specialist employee ownership consultant for Cwmpas, said: “It has been great to work with Pia on transition into employee ownership. Sharon’s vision for the company and determination to ensure the new business model is fully embedded to help secure its future is admirable.
“It’s also wonderful to see Pia Press return to its cooperative roots and ensure that the ethos and values of the business are secured with an employee ownership trust too. Pia is a very unique business and so EO was a perfect fit for its succession planning.”
