Civil and structural engineering consultancy Grossart Associates, has become one of the first in the sector to switch to employee ownership.
The East Kilbride company has transferred 100% of its shareholding to an employee ownership trust for the 14 employees.
Grossart Associates provides a design and project management function on public and private sector projects across a diverse range of industries. It has more than 300 active clients, 90% of whom provide repeat business.
The consultancy was established in 1985 on a sole trader basis by construction industry veteran Bill Grossart.
Head of Co-operative Development Scotland, Clare Alexander, said: “Whilst the business succession model is growing within the construction sector – as it is across all industries, there are still very few examples of employee-owned engineering consultancies. That means its new status will really set Grossart Associates apart in the market and give it a competitive edge.”
There are now an estimated 110 employee-owned companies with about 7,500 individuals generating a combined turnover of around £950 million.