Morecambe optical lens firm boss moves on after realising dream of employee ownership

The chairman of a Morecambe business has stepped down after the fulfilment of his vision for the company to be owned by its employees.

Under Paul Bailey's 15 years of ownership, Optimum RX Lens Specialists transformed from a small independent laboratory into one of the UK’s most recognised independent opthalmic lens manufacturers.

Mr Bailey has now retired and left the business, as has former Sales Director, Mark Marland, leaving the company with its future secured in the hands of the staff who have helped build its success.

Optimum, based on the White Lund Industrial Estate, makes lenses for high street and independent opticians, hospitals and laboratories across the UK, as well as for international markets.

When Mr Bailey acquired the business, Optimum employed fewer than 16 people and generated annual sales of less than £1m.

Today, the company employs more than 80 employee owners, has annual turnover exceeding £8m, and has become one of the largest employers in the local area.

In 2024, the employees at the firm were told, completely out of the blue, that they would be owners of the company as part of an Employee Ownership Trust (EOT).

George Cronje is pictured receiving an employee ownership pack from managing director Paul Bailey in 2024.

“I am immensely proud of everything we have achieved over the last 15 years," said Paul Bailey.

"We set out with an ambitious goal to become the most recognised independent laboratory in the UK while protecting the independence and values that make Optimum special.

“Looking at where we are today, I believe we have achieved everything we hoped for and more.

“What gives me the greatest satisfaction is knowing the business now belongs to its employees. The talented and passionate people at Optimum have built this company, and they are the right people to take it forward into its next exciting chapter.

“Employee ownership is a fantastic way to secure the future of a business while recognising and rewarding the people who have contributed to its success.

"I would encourage any business owner thinking about succession planning to explore the opportunities this model provides.”

In future, the company will continue to be led by its experienced leadership team of Andrew Evans, Managing Director, Tony Calvo, Innovation Director, Kate Child, Commercial Director and Kate Chaplow, Head of People and Culture. 

Optimum has also welcomed Andrew Jardine as Head of Operations, bringing more than 30 years’ experience within the manufacturing environment in the optical industry.

The leadership team at Optimum RX Lens Specialists

Tim Precious has also joined as Employee Trust Director, supporting the governance and long-term stewardship of the ownership trust.

Mr Precious brings more than 20 years’ experience with Essilor, having held senior financial, commercial and general management positions across the UK and Northern Europe.

Tim Precious

As an employee-owned organisation, Optimum aims to continue delivering outstanding ophthalmic lens products and service, while continuing to invest in innovation, its people and sustainable long-term growth.

Mr Bailey and Mr Marland will now spend more time travelling and pursuing personal goals.

Paul will also continue supporting other business owners who are considering employee ownership as part of their succession planning.

Optimum, based on Newgate, has been in business for 25 years, starting out as a lens coating firm.

EOTs are becoming more popular around the UK, with research showing that a combination of shared ownership and employee participation can lead to firms becoming more engaged, innovative, productive and sustainable.

Read more: INTERVIEW: Staff at Morecambe firm celebrate shock news that they now own the company - Beyond Radio