A Perthshire-based driving and training centre moved to an employee ownership model to secure more than 25 jobs.
Land Rover Experience Scotland has given giving staff an 83% share in the company through an employee ownership trust.
The company decided to move to employee ownership after working with Co-operative Development Scotland (CDS), part of Scottish Enterprise.
It offers advice and support to companies considering their succession options via a 100% funded ownership succession review and employee ownership feasibility study.
The off-road driving and training centre was set up in 1996 and employs 28 people. They all now have a stake in the business.
The business is at Butterstone Loch and operates a specialist off-road driving centre in Dunkeld.
It offers a range of driving experiences, corporate days and training courses.
Reasons for Perthshire firm’s decision
Director Will Cox said the decision was taken as some shareholders are set to retire.
He said: “We began looking at options to sell the business commercially as well as internally.
“Through Scottish Enterprise we learned about employee ownership.
“Following discussion with our employees, we decided to sell 83% of the business to the team, with one remaining director retaining the other 17%.
“Employee ownership ended up being a great fit for us.
“We really wanted to ensure the business stayed in the local area and retained its existing management team.”
Mr Cox said he hopes it ensures the long-term success of the company.
He added: “We believe it will ultimately make the team stronger and even more invested in ensuring the company’s continuing success while maintaining the excellent level of customer service we’ve always provided.”
CDS, part of Scottish Enterprise, supports company growth through collaborative and employee ownership business models.
Scotland is the third largest growth region in the UK for employee-owned businesses.
Employee-owned firms ‘more resilient’
CDS is the only dedicated service aimed at supporting business growth through more employee ownership and co-operative business models.
The move was managed by 4-Consulting, plus legal services from Blackadders and financial inputs from Milne Craig.
Head of CDS Clare Alexander said: “It’s easy to see why employee ownership would appeal to a business like Land Rover Experience Scotland. There are so many advantages.
“Not only does it give employees a meaningful stake in their organisation and a genuine say in how it’s run.
“Employee-owned businesses are also proven to be more resilient during times of economic crisis.”
She said they are also proven to be more profitable, more productive and have greater staff engagement
Ms Alexander added: “These are all key measures of business success and longevity.”
Conversation