Lloyd & Gravell

Funding from the Development Bank of Wales has supported Lloyd & Gravell to complete a transition to 100% employee ownership, securing the long-term future of the business and preparing it for further growth. 

The move sees the company owned by an Employee Ownership Trust, recognising the contribution of its workforce while maintaining independence and continuity. 

The challenge

As a well-established, award-winning construction contractor with a strong reputation for quality and long-term client relationships across Wales, Lloyd & Gravell faced a succession challenge common to many growing businesses. The exiting directors wanted to protect the company’s legacy, retain its values and ensure continuity for clients and employees alike.

Finding a structure that would secure the future of the business while rewarding the people who had been central to its success was a key priority. 

Development Bank of Wales support

The transition to employee ownership was backed by funding from the Wales Flexible Investment Fund, managed by the Development Bank of Wales. The funding enabled the establishment of an Employee Ownership Trust, under which Lloyd & Gravell is now wholly owned by its employees.

The transaction was advised by GS Verde Group, which supported the business across corporate finance, legal structuring and tax elements of the deal.

The outcome

The move to employee ownership secures the long-term future of Lloyd & Gravell while strengthening employee engagement and aligning the workforce directly with the success of the business. The new ownership structure ensures continuity for clients and partners and positions the company to build on its strong foundations as it plans for further growth.

Employee ownership also reflects the company’s long-standing commitment to leaving a positive legacy in the communities where it operates, while keeping jobs and decision-making rooted in Wales. 

What the Business said

“The greatest asset of any company is their workforce, and we wanted to make sure they had a stake in our future success as they have been central to our growth and achievements… The Employee Ownership Trust ensures continuity for clients and partners whilst providing security for the entire team.”
Rob Charles, Managing Director, with Paul Lloyd and Kevin Gravell, Lloyd & Gravell [ 

What the Development Bank of Wales said

“Our funding secures the long-term future of the business while empowering the workforce to participate fully in the rewards of the business’s future success. It’s a great step forward, underpinning greater employee engagement and keeping jobs in Wales.”
Arushi Jolly, Investment Executive, Development Bank of Wales