ICE TRIKES ARE 100% EMPLOYEE OWNED
In late 2022, we transitioned to an employee-owned trust (EOT) structure. This move was part of a strategic initiative to invest in our staff and ensure ICE's long-term success.
What is an Employee Ownership Trust?
Employee Ownership Trust (EOTs) are a UK Government initiative aimed to promote employee ownership by giving business owners the opportunity to sell their shares to an employee owned trust free from capital gains tax. EOTs do not involves direct share ownership by employees, rather a controlling interest in company is transferred to an all-employee trust which is then held for the benefit of employees.
Co-founder and Director Neil Selwood explains;
“Inspired Cycle Engineering (ICE) has been producing recumbent tricycles in Falmouth, England since 1999 but it can trace its history back to the original Trice first produced in 1986. Our aim is to always surpass people’s expectations in everything we do. That is why ICE trikes have played their part in setting world records, cycling to the South Pole, touring the globe in supreme comfort, and winning countless races as well as enabling people to enjoy their daily commute or a relaxed trip to the shops. We couldn’t have done that without our team and by becoming employee-owned we keep that passion for our work for years to come.”
Chris Parker, Co-founder and Director of ICE Trikes explains;
“What Neil and I do is design, innovate and bring our value to the hands-on delivery of high-quality trikes. Business is something that we have picked up along the way and we now feel that bringing in someone as Managing Director to run the business side free’s up our time for our passion and the reason we started the business in the first place. Our retailers and customers know us and want to talk to us about trikes and we want to keep that relationship in place. Day to day nothing will change for our retailers and customers other than our service and products improving and developing even further. At the end of the day recumbent cycling is fun and we want to bring that experience to as many people as we can”.
ADRIAN DAVIES, MANAGING DIRECTOR OF ICE TRIKES EXPLAINS;
I was drawn to Inspired Cycle Engineering (ICE) as a newly established employee owned business because I have always believed that ownership fuels commitment, collaboration, respect and long-term success. At ICE, every Colleague has an equal stake in our future - creating a culture where people are engaged, motivated and invested in the results. Unlike many traditional corporate models, employee ownership prioritises sustainable growth over short-term gains; decisions are made for the long-term, benefiting both the business and its people – totally aligned to the values of a B Corp Certified business (which we achieved in April 2024 as an early aspiration of Colleagues when I joined the business).
Following this transition, we have achieved several significant milestones:
- Partnership with British Cycling: For the first time in its history British Cycling made an historic partnership with an accessible cycle manufacturer. We are incredibly proud to be official partners to the Limitless Disability and Para Cycling programme, a groundbreaking initiative that supports clubs in delivering cycling opportunities for disabled riders across the UK. Through this partnership, we are helping to break down barriers to participation, increase accessibility, and promote inclusivity in cycling. By providing high-quality adaptive tricycles, we ensure that more people—regardless of ability—can experience the freedom and joy of cycling. This collaboration reflects our broader mission of making cycling more accessible, inclusive, and enjoyable for everyone.
- B Corp Certification – We proudly became a Certified B Corporation, reinforcing the commitment to social and environmental responsibility. This globally recognised certification is awarded to businesses that meet high standards of performance, accountability, and transparency in areas such as employee well-being, community impact, and sustainability. Becoming a B Corp aligns with our mission to create positive change—not just in the cycling industry, but for society and the planet as a whole. By prioritising ethical sourcing, reducing environmental impact, and fostering a supportive workplace, we strive to set an example for responsible business practices.
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Exporter of the Year 2024 – We were honored with the Exporter of the Year 2024 award by the Cornwall Manufacturing Group, recognising its outstanding contribution to international trade and global cycling innovation. This award highlights our ability to design, manufacture, and distribute world-class recumbent trikes to a growing international market, reinforcing our reputation as a leading player in the adaptive and performance cycling sector. With a strong commitment to quality, craftsmanship, and continuous innovation, we continue to expand our reach while maintaining its roots in Cornwall.
FOR THE BUSINESS
Long-term Stability – Protects the company’s legacy and keeps decision-making focused on sustainable growth rather than short-term shareholder profits.
Easier Succession Planning – Founders can step back without selling to external buyers who might change the business drastically.
Stronger Employee Engagement – Employees have a direct stake in the company’s success, often leading to increased motivation and productivity.
Profit-Sharing – Employees often receive tax-free bonuses in addition to regular salaries. As the company’s profits are reinvested in its workforce rather than going to shareholders, employees directly benefit from the company’s growth.
Job Security – Unlike businesses owned by private investors or corporations, an EOT is focused on long-term sustainability. This means there’s less risk of sudden redundancies or aggressive cost-cutting measures.
Greater Influence – EOT's often foster a more inclusive and democratic workplace culture. While employees don’t necessarily own direct shares, they have a collective voice in key decisions through representation on the trust board or advisory panels.
For Customers & Community
Ethical Business Practices – Many EOTs prioritise long-term sustainability and responsible business practices over short-term financial gains. Unlike companies driven solely by profit, employee-owned businesses often take a more values-driven approach, considering the well-being of their employees, customers, and the environment.
Local Economic Benefits – EOTs help keep businesses rooted in their local communities rather than being sold to external investors or large corporations that might relocate jobs, change the company’s culture, or prioritize profit over people. Employee ownership fosters long-term job creation, ensures that economic benefits stay within the region, and supports local supply chains.
Countdown to EO Day 2025!
EO Day 2025: 20/06/2025
The theme for this year is #eoSmile.
At ICE Trikes, we believe in the power of a smile—whether it’s the joy of riding a beautifully engineered trike or the satisfaction of working in a business where everyone has a stake and a say.
As an employee-owned company, our EO Smile starts from within. Being part of an empowered team, where every individual’s ideas and contributions matter, fuels our passion for innovation, craftsmanship, and creating unforgettable riding experiences. This sense of ownership drives productivity, creativity, and a deep commitment to quality, ensuring that every trike we build delivers freedom, adventure, and smiles to riders worldwide.
The EO Smile isn’t just about the workplace—it ripples outward, strengthening our community, environment, and the cycling industry as a whole. With shared values at our core, we continue to push boundaries, making cycling more accessible, inclusive, and enjoyable for all.
At ICE Trikes, our purpose and our EO Smile are one and the same: we put a smile on people’s faces through inspired cycle engineering.
