The deal to transfer a majority ownership of the Ready Mixed Concrete firm into an EOT was completed on Tuesday.

In a surprise move in Wednesday’s Budget Chanceller Rachel Reeves cut the current 100% Capital Gains Tax relief in half for business owners who sell via an EOT.

Goodmix Concrete founders Chris and Jasmine Goodier decided on an EOT after six years running the business.

Chris Goodier said: “We set out in 2019 with the intention of supplying concrete in the area based on service and quality.  Goodmix has always been built around its people who have been key to the continued growth of the business.

“Moving into an Employee Ownership Trust felt like the natural next step to protect everything that makes Goodmix special.  This structure gives our team the recognition they deserve and ensures that Goodmix remains independent, resilient and focused on delivering the same high standards.”

The new Managing Director and major shareholder of the business is Ryan Cropper.

He said: “I am delighted to become Managing Director at Goodmix – this is a very proud moment for me I am committed to building on our successes, strengthening our relationships and  ensuring we continue delivering excellence in everything we do. Our clients will continue to receive quality, reliability and the service you expect from us.”