Ikonic Technology becomes employee-owned

Aerial view of Ikonic Technology Ltd

Ikonic Technology Ltd, an independent IT distributor in Heywood, has become employee-owned after transferring 60% of its shares to an employee-owned trust (EOT).

Ikonic Technology Ltd joins other well-known brands like John Lewis, Richer Sounds, and Wilkin & Sons, the makers of 'Tiptree' preserves, who have successfully embraced employee ownership.

The Employee Ownership Association (EOA) reveals that over 1,200 businesses have adopted this empowering model, with the sector more than doubling in the past three years. Notable recent additions to the employee ownership movement include Go Ape, the treetop adventure company; Riverford, the innovative organic vegetable box provider; and Aardman, the world-renowned animation studio behind beloved characters like Wallace & Gromit.

Ikonic's management team – consisting of Tony Levene, Josh Goldstone, Jon Newman and Chris Perry – is spearheading this transformative development, which Ikonic says will ensure a 'financial benefit' to its 90+ employees.

Chris Perry, the group managing director at Ikonic, said: "Handing over Ikonic to our employees through the creation of the EOT marks a proud moment for us.

“This strategic move ensures the long-term stability of our business and supports our ambitious growth plans.

“We highly value the contributions of our team over the years and recognise the pivotal role everyone will play in driving our business forward.

“Creating an exceptional workplace is ingrained in our core principles, and we are thrilled to embark on this exciting new chapter."

Established in 1996 as Eurosimm, Ikonic Technology Ltd now operates distribution centres in the UK and Germany, offering a comprehensive range of leading IT brands, from cutting-edge innovations to rare and end-of-line products.

Additionally, Ikonic is a global supplier of refurbished IT equipment and holds the esteemed BSI 8887 certification for quality, a distinction shared by only two companies in the UK.