45 years after founding Nikwax, Nick Brown passes control, ownership to employees
Wadhurst, UK (February 1st, 2022)
Building on 45 years of Nikwax history
Today is a historic day for the Nikwax brand. After 45 years of being owner and founder, Nick Brown is passing control to his employees, on three continents, by selling his business to their newly formed Employee Ownership Trust.
In 1977, Nick Brown was living in London and had just finished university; he was both unemployed and in love with the outdoors—specifically long-distance walking and backpacking. Nick also had a passion for chemistry, and he utilized this talent to create his first product—Nikwax Waterproofing Wax for Leather—which he supplied to the 1980 Royal Geographical Society Karakoram Expedition, and which quickly gained in popularity locally and abroad.
Nick and Nikwax went on to develop a highly innovative range of cleaning and waterproofing products for outdoor clothing, footwear, and gear that are both free of solvents and persistent chemicals of concern. Nikwax is the only established waterproofing aftercare brand never to have used PFCs in its formulations (PFCs are associated with cancer and endocrine disruption, and are now known as the "forever chemicals" because they bio-accumulate). Over the years, Nikwax has grown to be an international company with branches in Mainland Europe, North America and South America.
The future of Nikwax is in shared ownership—an Employee Ownership Trust
Nick Brown is now 67, and while he hasn't hung up his boots, he has been preoccupied for more than decade with how to achieve a smooth succession. The Nikwax legacy is one of trying to do business in a responsible way and taking our planet and peoples' future into account.
Special arrangements for Employee Ownership Trusts (EOT) were introduced by the British coalition government in 2014, with a view to both protecting and encouraging employment. The founding concept of an EOT is that it exists for the benefit of the employees and all, in effect, are partners while employed. Since their introduction, EOTs have become an increasingly popular route for own-er/founders to achieve succession, while protecting the community of employees they have created. Nikwax is proud to announce that as of February 1st, 2022, the business is now an EOT.
One percent for the planet and for people
Part of the transition is a watertight undertaking that one percent of revenue will be forevermore dedicated to environmental and social projects.
Maïté Angleys, Director of Sustainability for Nikwax, said, "1% for people and planet is about giving back. Nikwax has been here for 45 years and aims to be here in another 45 years' time, which is why we want to do our best to protect the great outdoors for generations to come. To ensure continuity, Nick and his family will be involved in choosing the projects and organizations we support, giving us the chance to preserve our founding values into the future."
About Nikwax
Nikwax was founded in 1977 by Nick Brown, an avid hiker and traveler, who designed his own water-proofing wax to keep his leather hiking boots dry. Today, Nikwax is the trusted global leader in environmentally safe aftercare solutions. Nikwax products extend the performance life of technical clothing, footwear and equipment. Nikwax's 45-year commitment to clean chemistry means never using PFCs or aerosols, and not testing on animals. The carbon-balanced company's product line is water-based and biodegradable. All product bottles are made from 100% recycled plastic that can also be recycled. Nikwax North America is a subsidiary of Nikwax Ltd, a UK company.
