Tue, 19 Nov 2024 | BUSINESS SALE
Paisley-based engineering asset management firm EPM Solutions has transitioned to employee ownership. It means that the company, founded in 2002, will now be owned by its seven strong staff – according to its most recent results - through an Employee Ownership Trust (EOT).
EPM has built a strong reputation in providing expert professional services for a blue-chip customer base who operate in asset intensive, industrial and hazardous environments.
The decision to transition to an EOT was led by EPM founder Gary Kerr who will now step down as managing director and exit the business.
"I'm incredibly proud to hand over the reins to our talented team, in doing so, I want to express my sincere gratitude to everyone, past and present; staff, associates, customers and partners, who have all played a massive part in the growth and success of EPM,” he said. “This transition is an exciting milestone, securing EPM's future and I'm confident that our employees will continue to drive forward the company's growth and success."
The transition to an EOT will not, the group said, affect day-to-day operations and indeed introduces new advantages for EPM’s workforce, including a greater voice in the company’s strategic direction and potential financial rewards tied to the company’s success.
Long-serving Director Kevin McGinnigle will take over as Managing Director. "I'm excited to lead EPM into this new era of employee ownership. We have a loyal and talented team in place, coupled with our strong client relationships the transition to EOT positions us for continued service and innovation,” he said.
Colm Kerr of McKee Campbell Morrison provided legal advice for the transaction. He added:“A sale to an EOT is a great option for entrepreneurial businesses such as EPM Solutions. This allows the owner to realise their value, whilst offering continuity to both employees and clients. “
Carole Leslie and Alan Watt of Ownership Associates provided comprehensive, specialist advice including the valuation of the business, structuring the transaction, obtaining HMRC clearance and project managing the completion process.
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