Cardiff and Bridgend based law firm Berry Smith has announced its transition to employee ownership, becoming one of the first law firms in Wales to adopt the model.
The move sees ownership of the firm transferred to an Employee Ownership Trust (EOT), ensuring the long-term independence of the business while giving employees a stake in its future success.
Founded in 1986, Berry Smith employs 70 people across its Cardiff and Bridgend offices and advises businesses, public sector organisations and private individuals throughout Wales and beyond.
The firm says the change will not affect its day-to-day operations, with clients continuing to receive the same legal services from the same teams.
Andrew Bound, Joint Managing Partner, said:
“This is an important milestone for Berry Smith. Employee ownership recognises the contribution our people make every day and helps secure the firm’s future for the long term. We believe it is the right model for our business, our employees and our clients.”
Nick Parker, Joint Managing Partner, added:
“Our aim has always been to build a successful independent law firm operating in Wales. Employee ownership helps safeguard that independence, protects our culture and ensures that the people who contribute to our success share in the firm’s future.”
Berry Smith was recently recognised by Legal 500 as the highest-performing law firm in Wales for client recommendations. The firm says it will continue to invest in its people, technology and services as part of its future growth plans.