3P Technik UK, a stormwater treatment and rainwater harvesting specialist, and its sister sustainable building supplies company Celtic Sustainables Ltd, have become an employee-owned group, now operating as Celtic House Holdings Limited.
Founded in 2000 by its current Managing Director Glyn Hyett, 3P Technik was originally based in Cardiff, before relocating to Cardigan in 2005. In 2008, Hyett established Celtic Sustainables Ltd, when he saw a gap in the market for sustainable building products in the region.
The transition to Employee Ownership (EO) brings the two companies together under one group, Celtic House Holdings Limited, from a shared factory unit in Parc Teifi in Cardigan and employing 17 people. Since the move to Cardigan more than 20 years ago, the business has employed more than 50 local people, something that has always been important to founder, and a key reason behind his decision to become employee-owned and use the Employee Ownership Trust (EOT) model, rather than a trade sale.
Hyett will remain with the business after it transitions to Employee Ownership. He explained: "When looking at the future of the business, I wanted to put something in place to ensure that it remained in Cardigan and that the people who have been loyal to the Group and me for so many years have some job security.
"I did explore the traditional trade sale route, but I wasn't ready to leave the business quite yet and was also aware that by selling to a third party, the likelihood would be that the jobs would leave the region and that's something I wasn't willing to do.
"I am staying with the business for the foreseeable future, so I can pass on my knowledge of both stormwater treatment and sustainable building to the rest of the team here, and to ensure that future generations have opportunities to build rewarding careers in this beautiful part of the world.
"While the businesses will continue to operate independently under their own brands, the move represents a shared commitment to long-term stewardship, local employment and sustainable business."
Hyett will be part of Celtic House EOT Trustee board for the Celtic House group of companies, together with employee trust board members Jane Heard and Rhys Rideout. The independent trust board member is Sarah Owens from the EO Team at Cwmpas. Senior managers Andrew Mayer, Morag Embleton and Anthony Kerr have been appointed as Directors of Celtic House Holdings.
