Microtech Group adopts employee ownership

Ayreshire-based Microtech Group will become a majority employee-owned company with 74% of the business shares being transferred into an Employee Ownership Trust (EOT).

The decision was made by MD Chris McMail who favoured employee ownership to any purchase offers.

He said: “After making the initial decision to explore options for the future, I received various offers. However, none of these guaranteed the continued operation of Microtech in Scotland, which took so much hard work to build.

“It soon became apparent that any sale of the business to a third party would result in drastic changes to the company operations, including potential relocation and possible job losses.

“When the proposal of transitioning to an EOT was suggested, I knew this was the best way to secure the company’s position in Ayrshire.”

McMail will retain a minority shareholding and stay on as MD.

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