Rivertrace, the UK based Quality-Assured Company and market leader in developing environmental monitoring solutions for the marine market, has introduced an Employee Ownership Trust (EOT) scheme. The scheme benefits all personnel employed by Rivertrace and its subsidiary company Solar Solve, and is intended to provide an additional incentive to deliver positive results throughout the organisation.
The EOT initiative will mean that the employees will collectively own a significant part of the company, which is held in trust on their behalf. This fosters and strengthens the joint commitment to grow the company and drive future success. The scheme is a central pillar in Rivertrace’s platform to achieve growth through strategic investments in people, processes and products. Future acquisitions are also targeted, building on the success of the Solar Solve acquisition.
“The EOT initiative represents a long-term commitment for all employees and a chance to drive the businesses forward with increased employee engagement. Rivertrace is dedicated to fostering a collaborative and inclusive environment, where every employee has the opportunity to develop their own skills, and to contribute to the growth and prosperity of the business,” said Mike Coomber, Chairman of the Board at Rivertrace.
Rivertrace currently celebrates its 40th year in business and remains family-owned. Founded in 1983, the company continues to be owned and run by the Coomber family, with Mike Coomber as Chairman. This continuity has enabled the forming of a close relationship between management and employees, which is exemplified by the introduction of the EOT scheme.
The marine sector is faced with a growing number of increasingly stringent environmental regulations as decarbonisation becomes a major industry goal. Rivertrace expects that its extensive range of products, covering applications for legislative discharge requirements, condition monitoring equipment, and digital technology for enhanced efficiency and compliance, will continue to play an important role in meeting regulatory requirements.
Mike Coomber, Executive Chairman, Rivertrace
