Nikwax and Páramo founder Nick Brown hands company to its employees

Nick Brown, founder of Nikwax and Páramo, has passed control and ownership of both brands to his employees, announcing a newly formed Employee Ownership Trust (EOT) to facilitate the transfer of ownership.

Mr Brown, 67, founded Nikwax 45 years ago, followed by Páramo, which launched 15 years later.

Discussing the transition, Mr Brown commented: “By passing on the business to the employees, I feel that I am not only looking after them, but also looking after the interests of our loyal customers. Outdoor people have come to have high expectations of Nikwax, at many levels, and I would not want them to be disappointed. So many companies end up being aggressively taken over and broken up and lose their soul. This is our best shot at avoiding that and continuing the guiding principles.”

Commenting on the sale, outdoor industry specialist Stephanie Briggs noted, “Choosing the route of Employee Ownership Trust (EOT) not only supports employees but will also ensure the soul of the business remains intact. As part of the EOT, 1% of Nikwax and Páramo’s turnover will be donated to social and environmental initiatives.”

“The Nikwax legacy is one of trying to do business in a responsible way and taking our planet and peoples’ future into account,” comments the Nikwax blog post announcing the EOT, whilst also outlining the future of the business.

The waterproofing specialist is distributed in over 40 countries worldwide.