Not selling up

Torchbox transfers 100% of business to Employee Ownership Trust in UK agency first Torchbox, a digital agency with 65 employees and offices in Bristol and Oxfordshire, has become the first digital agency in the UK to transfer 100% of its business to its employees. The company offers digital product development and marketing services to clients across non-profit, healthcare and higher education sectors. It created Wagtail, the popular open source CMS now used by the NHS, NASA and Google. The founders first revealed plans to staff in March and expect the sale process to complete on the 28th June 2019. Torchbox’s employees, who will receive a tax-free bonus of up to £3,600 every year as part of the deal, have elected a Trust of Directors from the existing workforce. The Trust will work alongside Torchbox’s Directors to oversee strategy and growth, with an emphasis on ensuring that the business’s sense of purpose and values remains paramount. Torchbox founders Olly and Tom will be part of