Kirkstall-based recruitment and people solutions specialist TSA Surveying has marked its first full year as an Employee-Owned Trust (EOT) by paying a profit-share bonus to its team.
The move saw the surveying and property recruitment firm transfer 100% of its ownership into a trust held for the benefit of its employees. TSA’s turnover hit £14m in 2025 after experiencing 28% year-on-year growth since 2020.
The EOT serves as a long-term succession plan for founders Michael Warburton and Matthew Steptoe, who wanted to secure the company’s future without selling to a competitor or private equity firm.
This shift in structure means TSA’s 20-strong staff now have a direct stake in the business. To prove the model works, the company has just distributed a profit share to the team.
Founded in 2020, TSA, based at Airedale House in Kirkstall, specialises in technical recruitment for the property, construction and engineering consultancy sectors with clients ranging from tier one chartered surveyors and chartered engineers to regional and specialist surveying SMEs.
Managing director Michael Warburton explained the move. “We didn’t want to sell out. We’ve spent years building a brand that focuses carefully on our specialisms. We aren’t the typical recruitment firm,” he said.
“Selling to a large corporate or private equity house usually means losing your identity and your culture. The team we have built is too important to us. The EOT decision protects what we’ve built and gives our team a genuine reason to stay and grow with us.”
Co-founder Matthew Steptoe added: “We started TSA Surveying with some very simple values – two of which were: we are one team and we will all share in the success of the company.
“As we have grown, we have remained true to these values to support building our amazing team, without whom we wouldn’t have been able to reach such levels of success. So, when the topic of succession planning came up, our decision was simple – not just what is best for us, but what is best for all our employees.”
Day-to-day operations remain unchanged, with the founders continuing to lead the business alongside fellow director Omar Hassan.
The management team has committed to a gradual transition over the next five years, ensuring stability for clients while the next generation of leaders steps up.
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