A research charity is to merge with a management consultancy to create the country's first public-interest company, ahead of expected legislation to make it a legal entity.
The Public Management Foundation, a public-services research charity whose trustees include charity commissioner Julia Unwin and the chief executive of Turning Point Victor Adebowale, will merge with OPM Limited on 1 August to create OPM - an employee owned public-interest company which will reinvest all surpluses.
Greg Parston, chief executive and co-founder of OPM, believes the company could be a model for a new type of not-for-profit public service provider. "OPM will model the ways in which service provision, previously thought to be only part of the private sector, can work in the public interest,
New legislation to reform company law is expected to create a new legal entity of the public interest company.