Scottish civil engineering contracting firm Kilmac has become employee owned, guaranteeing the future of 130 employees’ jobs.
Based in Tayside with an annual turnover of £20 million, the business has been placed in an employee ownership trust (EOT) by its founders Athole McDonald and Richard Kilcullen.
The overall process was supported by Kilmac’s accountants Azets and legal advisors Thorntons Solicitors. Carole Leslie of employee ownership specialists Ownership Associates provided support for the project and assisted on communication with the new employee owners and other stakeholders.
Civil engineers McDonald and Kilcullen, who started the organisation in 2004 and are currently working on the transformation of Perth City Hall and the latest development phase of the James Hutton Institute in Dundee, say they plan to remain in their roles for the next three years.
McDonald commented that the business had to look to the future and, by creating an EOT, Kilmac would be in safe hands with its senior management team, so continuing to provide stability for customers and job security for employees.
“It’s good news for Tayside, with the vast majority of our staff living in Dundee, Perthshire and Fife. We knew what we wanted to deliver and have remained true to our principles, as we could have found a buyer for the business, but we have an experienced and talented team who are more than capable of taking on the reins over the next few years,” he said.
“The structure is being created to take the business forward, provide clarity to our staff and customers and to avoid unnecessary disruption,” McDonald added.
Finance manager Julie Scobie said: “Kilmac has always felt like a big family and it is comforting for everyone to know that Athole and Richard have full confidence in their staff to be able to hand the legacy of their company into employee ownership as they navigate their next steps.”
