North London civil engineering firm Galldris has transitioned to an Employee Ownership Trust
Galldris has been sold to the staff in a transition to an Employee Ownership Trust(EOT). Introduced in the UK in 2014, EOTs have become an increasingly popular form of employee ownership. In 2018, only 19 businesses used them- a number which had increased by 2,750% by 2023.
According to the Employee Ownership Association, as of 2025 2,470 businesses employing 358,000 people have signed up to EOTs. Notable companies embracing the strategy include John Lewis Partnership PLC, Arup Group and Mott MacDonald.
Notably, RSM found that construction was the fastest-growing sector for employee ownership, seeing a 6,580% increase between 2014 to 2025.
The 27-year-old firm has enjoyed a sudden ascent in fortunes
Founded by Donal Gallagher and Sean O’Driscoll in 1998 in North London, the business grew to a purpose-built headquarters in Enfield in 2008 and a plant hire yard in 2010, as well as opening a new regional office in Birmingham Business Park in 2023 in tandem with their work on HS2.
Latest accounts to March 2024 reported a pre-tax profit of £21m on £125m revenue, a substantial increase on the previous year’s pre-tax profit of £880,000. Cash at bank also rose 15% to £31m. Speaking in January, Gallagher said: “A focused strategy of targeted cost control, cost-plus contracts, selective bidding and pro-active supply chain management have all combined to raise the margins for the year.
“Our expectation is that retention of our current margins will require constant monitoring and proactive management, however, it is anticipated that the group will continue to be cash positive and continue to retain a strong order book moving forward.”
Galllagher and O’Driscoll said on the EOT transfer: “From our clients and stakeholders perspective, it is very much business as usual.”
Helping “ensure sustainable growth and adaptability in an ever-evolving industry”
Galldris commented on the news of being sold to staff: “The establishment of the EOT allows employees to have a stake in the success of the company, promoting a sense of ownership and shared responsibility.
“This initiative aligns with Galldris’ core values of collaboration, innovation, and dedication to quality, enabling the workforce to contribute actively to the company’s strategic direction and growth.”
