Thirsk-based Land Rover Defender specialist Twisted has announced that ownership of the businesses has now been transferred to its employees via a trust.

The employee ownership trust (EOT) arrangement will see the Twisted Automotive Group run for the benefit of its 35 employees.

The deal means that staff from Twisted Automotive and specialist dipping company, Hydrographics, will now collectively share full ownership of the business.

This will provide greater incentive for them to influence business decisions with day-to-day benefits and financial rewards.

Twisted founder Charles Fawcett will remain in his role as managing director.

Speaking about the deal he said: “It is with great pride that we enter employee ownership; a venture that recognises both my appreciation of my hardworking team and the importance of their contribution to the company’s success.

“I’m delighted that Twisted has secured its future independence with a focus on its people, by offering them the opportunity to own the business that they have helped to build and empowering their future growth and development for years to come.

"The business will flourish under their steam because of this.

“Setting up an EOT scheme is a very exciting stage in the company’s history and is key to our succession planning in the wider business arena.

"And whilst we’ve created a more employee-centric structure, our board of directors will remain active in their current roles and continue to contribute and drive the business to new heights, maximising the opportunities this will bring.”

Founded in Thirsk in 2000 and with additional locations in Kensington, Salcombe, Silverstone, Austin (Texas) and Dubai, the Twisted Automotive Group now employs 35 staff and turned over £6m in the year to December 2021.