A leading national fire engineering consultancy business has become completely employee owned with support from a seven-figure HSBC UK funding package.
Tenos became partially employee owned in 2019, and with the financial support of HSBC UK has now transferred one-hundred per cent of its ownership to employees, with all staff receiving share options as part of our continued employee engagement.
As part of this HSBC UK supported transition, Tenos has also paid out on the first tranche of share options, with employees benefiting from the growth and success they have been part of creating.
The company will continue to drive recruitment following the transfer of ownership, with aims to attract more engineers to jobs across the business.
Paul Hoban, Director of Finance and Practice Management at Tenos, said: “We are incredibly proud of what Tenos is achieving and the innovative work our employees are doing around the world. This transition to employee ownership is an important step for the company, and will ensure that we can continue to deliver the highest standards of customer service and attract talented individuals to the business for many years to come.”
Jenny Taylor, Relationship Manager at HSBC UK, added: “It’s fantastic to support Tenos with its full transfer of ownership to employees. Everybody at the consultancy will benefit from this transition and it will also make the business more attractive to potential future employees. We look forward to seeing Tenos grow and build on its already significant market expertise and exceptional client services.”
Founded in 1997, Tenos is a leading fire consultancy that provides innovative fire engineering solutions for the built environment. The business has always focused on mission driven sustainable growth, rather than building for acquisition or seeking VC funding. The transition to a full EOT ensures those working in the business continue to control what they do and how they do it; the Tenos vision is to ensure that people can work, live and sleep, safe from the effects of fire.