Distie Target wants to become employee owned to protect staff if the company is swallowed by another company.
The West Yorkshire-based firm plans to adopt an Employee Ownership Trust (EOT) model which will see its 70 employees become majority owners of the business.
Existing shareholders, MD Paul Cubbage and owner Ian Prescott will retain a 10 percent minority stake in the new ownership structure each.
As part of the change, Cubbage will step down from the daily operations and become a non-executive director. Target will begin the search for a new boss to lead the business.
