About us

What is the BVEOA?

We are here to help veterinary practices to make the transition to employee ownership, using the experience we’ve gained from making the journey ourselves.

We can help you whether you’re at the start of the process and looking for guidance, in the thick of the work it takes to make the switch and in need or reassurance, or even if you’ve not taken any action as of yet and are just looking for someone to chat to about the pros and cons.

While we’re evangelistic about the benefits of becoming an employee owned practice, it does come with challenges – and we’re here to make navigating this as smooth as possible.

We were founded by Caroline Collins, Matt Flann and Andy Green – who know firsthand what the process entails from charting the course with Pennard Vets, which in 2021 became the world’s largest employee owned veterinary practice.

Since then we’ve affiliated ourselves formally or informally with veterinary practices across the country, all of whom have their own story about becoming employee-owned – and are happy to talk about their experiences.

Employee ownership is a business ownership model in which an employee owned trust (EOT) holds at least 51% of a company’s shares, on behalf of the employees of that company.

This means that there are two separate entities: the trading business and the EOT.

Employees do not individually own shares in the business, which means they don’t have to invest any money to enjoy the benefits, but they have no stake should they choose to leave the business.

Employees are represented within the business by a board of EOT trustees. These trustees oversee the actions of the directors of the trading business to ensure it is run in the interests of the employees.

Typically, the EOT trustees will include an employee trustee, a director trustee representing the former owners and an independent trustee from outside of the business.

This means that every team member has the opportunity to influence significant business decisions, without there being any direct financial risk for the employees in any way. As well as this, a tax free bonus of up to £3.6k can be gifted to each employee owner each year at the discretion of the trading company board.

It’s important to remember that this comes directly out of the trading company’s operating budget – and that the trading company is responsible for paying out the original owners on behalf of the EOT, over a maximum of 10 years.

There are a number of very well known EOT businesses out there, the best known of which is John Lewis. It’s becoming an increasingly popular model across different industries, but it’s still very new in the veterinary sector.

What is an EOT?

EOTs in the veterinary industry

For many people in our industry, traditional ownership models are no longer fit for purpose.

With the scale of financial valuations of practices these days, the model of employees growing within a practice and buying the owners out is often no longer achievable.

It’s extremely difficult to individually raise that level of finance, and even if it’s possible the risk and stress of, for example, putting the family home up as collateral is prohibitive.

Our practices are built on our teams. If we have people in practice who we trust and believe in as leaders, the EOT model allows us to empower them to lead our practices forward.

It's also a powerful attracting factor when recruiting new people, offering them the opportunity to join something that gives them a real say in the direction of the practice, and a real stake in the business.

We believe EOTs have tremendous potential to engage and commit the team to the practice with that shared sense of ownership and purpose and responsibility.

Our founders

Matt Flann

Matt Flann is a Director at Pennard Vets, an employee-owned veterinary practice leading the way in purpose-driven business.

A veterinary surgeon with a deep-rooted passion for innovation, Matt has helped steer the practice through sustained growth — always with a focus on clinical excellence, team wellbeing and long-term impact. His expertise spans animal welfare, nutrition, and client education, underpinned by a strong belief in the power of preventative care.

Matt is also a champion of veterinary innovation, with a track record of bringing fresh thinking into everyday practice to benefit both patients and people.

Caroline Collins

Caroline Collins is the Chief Operating Officer at Pennard Vets, an employee-owned veterinary practice leading the way in purpose-driven business.

A veterinary surgeon by background, Caroline plays a key role in shaping the company’s culture and sustainability strategy. Under Matt, Andy and Caroline's leadership, Pennard Vets became the first veterinary practice in Europe to achieve B Corp Certification — reflecting its commitment to people, planet and purpose.

She is also an accomplished open-water swimmer, having completed relay crossings of the English and Catalina Channels.

Andy Green

Andy Green is Chair of the Employee Ownership Trust Board at Pennard Vets, an award-winning, employee-owned veterinary practice leading the way in purpose-driven business.

A small animal vet by background, Andy has spent over three decades in the profession, including more than 17 years in senior leadership. As one of the founders of Pennard’s Employee Ownership Trust, he’s played a central role in shaping its progressive, people-first model.

Andy is also a seasoned leadership mentor and development consultant, working with individuals and teams across the profession. He brings deep expertise in behavioural profiling and human performance, and regularly speaks at events in the UK and internationally.