Ownership of Edinburgh-based childcare business Kidzcare has been handed to its 150 employees.
All shares in the organisation – which operates four nurseries and six after-school clubs in the Scottish capital – have been placed into an employee ownership trust (EOT) by co-founder Anne-Marie Dunn.
Dunn said she wanted to find an option that rewarded and empowered staff into the future as she looked to withdraw from the business.
She added that the EOT will allow Kidzcare’s values of safety, child development, fairness and kindness to stay in place, greatly benefiting the children and those who look after them.
Current HR manager Julie MacKenzie, who has been with the business for more than eight years, will take on a managing director role as Dunn gradually steps back over the next few months.
Dunn explained that she was “delighted” to be able to reward her “dedicated and loyal employees” by offering them a share of the business, and that she had planned for a seamless transition to smoothly enter the next chapter, feeling in control of how that happens best for all stakeholders.
“The staff at Kidzcare have supported me throughout this journey and I couldn’t reconcile myself to the idea of passing it on to anyone else,” she said.
Ownership Associates, a specialist adviser to businesses considering establishing an EOT, provided support throughout the process to the employees and Dunn.
“The transition into employee ownership has been very easy,” said Dunn. “Business transactions like this can be daunting and complicated, but I have been so lucky to have a team of experienced advisors. They have guided me every step of the way.”
Digital marketing and communications agency Formative Content this month announced its transition to an employee ownership trust (EOT).
Employee Benefits also reported in January that Yorkshire-based law firm Ison Harrison had moved to an employee ownership model.