Retail
Majestic Trees, winner of the UK’s Grower of the Year a record 4 times and twice Silver medallists at the AIPH International Grower of the Year, has announced that Steve McCurdy, Managing Director, and his wife Janet, have sold 74% of Majestic Trees to their team, via an Employee Ownership Trust. This transaction, effective October 5th 2023, was driven by a long-term desire to reward the Majestic Trees team, many of whom have been with the company for many years and have helped Steve achieve the vision he had when he established Majestic Trees and subsequently opened for business in 2002. Majestic Trees grows 550 varieties of trees in AirPots, from 35 to 5,000 litre and up to 12 meters tall, along with instant hedging, and supplies many small to large gardens as well as estates and commercial projects across the UK, as well as shows, such as RHS Chelsea and Hampton Court.
“Over the years, I have had numerous enquiries from individuals and businesses, both in the UK and overseas, wanting to explore buying Majestic Trees, an investment, or a partnership where we would roll out Majestic Trees in other countries including the USA and China, all of which I have declined, as I felt that they would be too much of a distraction. Undoubtedly, the price that we have sold our 74% is less than we could have achieved, but it enables us to leave both a legacy, ensure Majestic Trees and its ethos and core values continues as it is, and that the team’s future is both secured and most importantly is rewarded. Money isn’t everything, as I would be far happier to see Majestic Trees continue to prosper under the team who helped me build it, and not be torn apart as so often happens in a buyout,” said Steve McCurdy.
He goes on to say; “It has been hard work, graft, and loyalty, combined with a lot of brains and a street-smart team, that have enabled us to achieve so much in just over 21 years. I am now 63, and whilst I had no plans to retire, the massive High Court battle I fought for the industry against DEFRA in 2022 over a 5-month period almost literally killed me, and took an incredible toll on my health and forced me to reevaluate what would have happened had I not survived. I have now recovered, and whilst I’ve been mentoring the management team for many years, the illness forced my management team to really step up, so the time seems right to begin this transition process, and now results in this Employee Ownership Trust (EOT) for Majestic Trees”.
Majestic Trees, always known for not sitting still, has gone through transformational changes over the past 6 years. With a new office building and visitor centre, a major expansion of the nursery growing fields, a big new barn and employee facilities, a major refurbishment of the complete nursery with concrete roads and bridges, combined with a renewal of the fleet of 8 trucks and heavy equipment, and this summer a major solar panel install on one of its barns, so Majestic is ready for the next push. The EOT gives the team an even greater incentive of future dividends, on top of the current 25% profit sharing that Steve & Janet have distributed to the team for well over 15 years!
Maria Bengtsson, Pruning and Stock Manager said, “When I came here from my native Sweden, I never thought I’d stay beyond a few years, however Majestic Trees quickly proved quite special. Here, I’ve enjoyed a fun and stimulating job, but also opportunity for growth, eventually honoured with becoming part of the management team, and nearly 12 years later, I couldn’t see myself anywhere else. The EOT is incredibly exciting for everyone, and a true testament to the company’s team spirit. Granted, Steve’s shoes are very hard to fill, but together, and with his mentoring, we’re ready for the next chapter”!
The current management team will all become directors. Sarah Shynn, Sales Manager (19 years), Fern Snowling, Planting and Logistics Manager (17 years), Carlos Guinand, Nursery Manager (16 years), Helen Morgan, HR & Finance Manager (15 years), Maria Bengtsson, Pruning and Stock Control Manager (12 years), and Eliot Barden, AfterCare, Apprenticeships, and Training Manager (5+ years), will all continue in their current roles and sit on the board, which they have effectively done since they moved into management.“Steve and Janet’s decision to opt for an Employee Ownership Trust (EOT), passing the baton to the next generation, shows immense trust and belief in the team. Everyone is looking forward to the challenges and opportunities that the EOT
will provide, and we hope future employees will be inspired by this arrangement to!” said HR & Finance Manager, Helen Morgan, who is also the Management Teams Trustee Director.
Eliot Barden, AfterCare, Apprenticeships, and Training Manager, last year’s HTA UK Young Grower of the Year, who then went on to win the coveted AIPH International Young Grower of the Year, says; “After finishing school, I followed my passion to study horticulture and joined RBG Kew, which at the time was against many of my ‘career advisors’ advice. I spent 5 years at Kew, completing both my Apprenticeship and Diploma, graduating with honours. It was a difficult decision not to stay. Kew is held very close to my heart, and I respected so many of my colleagues, but I wanted to grow trees on a production nursery. I jumped at the chance to then immediately join Majestic Trees. However, I never anticipated that in only a few years I would be looking at becoming an employee owner, effectively working for myself! Steve & Janet have given all of us a wonderful, once in a lifetime opportunity!”
Under this, Steve will retain 26% of Majestic Trees, with the majority 74% being owned by the whole team. He plans to continue as managing director for some years, health allowing, moving at some point in the future to chairman, when he will semi-retire. On the outside there will be no change, and whilst Majestic Trees EOT Limited was registered at Companies House, it is simply the corporate trustee of Majestic Group Employee Ownership Trust. It holds the shares in Majestic Group Limited on behalf of the trust in its capacity as the corporate trustee of Majestic Group Employee Ownership Trust, and Majestic Tree EOT Limited will simply file dormant accounts.
Nursery Manager, Carlos Guinand says, “There is something utterly unique about
horticulture… the passion. Over the years, Majestic Trees has built a thriving business beyond what comes out on the bottom line; rather, a team that identifies itself with a true passion for growing trees. Steve and Janet’s decision to sell the fruit of their 20-year labour to the team, all the sweat and tears, is proof of this passion; passion for values, for a business founded on commitment and professionalism, and a passion for the future of the UK’s horticulture sector”.
Steve McCurdy started his horticultural career in 1976, at Thomas Rochford and Sons Houseplants, in Turnford, Hertfordshire, then a thriving 400 employee nursery with around 100 acres of glass started 100 years before. One of an intake of 12 apprentices, Steve attended Oaklands horticultural college over 3 years, prior to being selected to train overseas. During that year, he met his future wife, Janet, but having completed his training, he returned to Rochford’s, but 2 years later emigrated to California to get married. He continued to work in houseplant production, then in 1984 went on to start his interior landscape company, Landscape Images. Having built a great team, the company won a total of 94 national and statewide awards for its interior landscaping, but in July 2000, Steve and Janet, along with their three sons returned to the UK to start Majestic Trees. After almost two years of major investment, financed to a large extent by the sale of their California company, Majestic Trees opened in May 2002, only taking £38 in the first month! However, within 12 months, the company was well on the road to success, and the rest is history.
“People reading this will think this is a massive change, but from the outside nothing will be different, as we will all continue in our current roles. This change brings new opportunities, and I believe will empower the team on to even greater things. We have no plans to now sit back and relax, as we have exciting growth plans, and whilst we have always felt we had some of the finest opportunities for dedicated horticulturists, great benefits package which included the current 25% profit sharing every year with every member of the team over the past 15 years, the EOT offers this even greater ability to attract and keep the best talent in the industry. As it stands, we are currently recruiting for both a horticultural advisor and for our planting and delivery services experienced horticulturists, now with an even bigger carrot”, says Steve McCurdy.
EOT’s are a growing trend, made possible by the Finance Act 2014, when the coalition
government decided that they wanted to see more employee ownership. Majestic Trees has been advised on the EOT transaction by Rm2 Partnerships, Employee Share Scheme Specialists. There are other companies offering this service, but make sure you find someone who has the experience and knowledge to deliver.
