Taproot Community Support Services becomes Canada’s largest employee-owned trust
Congratulations to CEO, Michael Fotheringham, and all 750 new Employee Owners as Taproot sells its company to Canada’s largest Employee Ownership Trust (EOT). We are thrilled to have supported Taproot at every step in their journey to 100% employee ownership.
Canada’s introduction of EOTs in 2024 created a succession pathway for Taproot that put the organization’s future into the hands of its workforce, enabling the first EOT in the social services sector. Now every employee has a stake in the business and benefits from its success.
Canada’s Minister of Finance, François-Philippe Champagne, attended the all-staff meeting that announced the ownership transition to an EOT: “Taproot's move to an Employee Ownership Trust is a game changer. It not only secures its future and empowers its team, but it also guarantees that the vital services children, youth and adults depend on will continue. This is a perfect example of what EOTs can do: they’re a powerful, timely tool that helps Canadian employees become owners of the businesses they work for while helping entrepreneurs find the right people to carry their legacy forward.”
The Rewrite team had the honour of attending the all-staff as well, witnessing firsthand the effect the news had on Taproot’s workers, now owners of the company. Through the jubilance and celebration, one employee’s words struck the highest note. From new employee-owner Kam Kaur: “This is the first thing I own in Canada."
