Welcome to Gripple in Sheffield, where everyone is a part owner of the business

Gripple leads new era in business ownership

The Sheffield entrepreneur offered all his employees a chance to become shareholders in the company, which manufactures wire-joining and suspension systems for the construction industry.

In doing so Gripple, which today has around 700 staff across the world with 550 in Sheffield, became a model for employee ownership.

Each employee has to buy £1,000 worth of shares within 12 months of joining the company – the idea being that everyone has something at stake when they come into work.

Prior to Gripple, Mr Facey sold his Estate Wire business to focus on the joining mechanism.

He says: “After we’d sold Estate Wire I thought it was wrong that I should have all the profits from the sale of the business and the staff not have anything, who had all contributed to the business.”

Instead, those who decided to jump over to Gripple were introduced to the benefits of employee ownership, while those who stayed at Estate Wire were given a proceeds bonus.

The straight-talking Yorkshireman insists that nothing was given away. “We don’t give anything,” he says. “We’re from Yorkshire.”

Today he still remains active in Gripple as chairman. His managing director, Ed Stubbs, says that he is still involved in “lively debates”.

Mr Facey also has a passion for charity work. Gripple contributes one per cent of profits towards chosen charities and also gives employees time to contribute towards good causes.

The entrepreneur himself recently spent time in Kenya on a honey production project.

Mr Facey says he is proud to be a Yorkshireman, having been born in Huddersfield, “but my father is Canadian and my mother was from Essex”.

When asked about his motivations for turning to employee ownership he responds with a shrug of the shoulders that suggests the answer is simple, and then saying he wants to see Gripple last for generations.

The way the business has grown over recent years, it’s fair to say that Gripple is on the track that Mr Facey intended it to be.