Civil engineer Kilmac opts for employee ownership
Tayside-based civil engineering contractor Kilmac has opted for an Employee Ownership Trust (EOT) for its 130 employees.
With an annual turnover of £20m, its current projects include the transformation of Perth City Hall and the latest development phase of the James Hutton Institute in Dundee.
The process of moving the business into employee ownership has been supported by Kilmac’s accountants Azets, legal adviser Thorntons Solicitors, and employee ownership specialists Ownership Associates.
Founders Athole McDonald and Richard Kilcullen, who started the business in 2004 after meeting at Dundee Institute of Technology, plan to remain in place for at least the next three years.
Mr McDonald said: “We have to look to the future and by creating an EOT, Kilmac will be in the safe hands of our excellent senior management team. It’s good news for Tayside, with the vast majority of our staff living in Dundee, Perthshire and Fife, and it ensures the company will continue to provide stability for our customers and job security for our employees.”
Kilmac acts as the main contractor for local authorities, universities, local health services, road network authorities, council direct labour organisations and private clients, and is a groundworks contractor for commercial, social infrastructure and housing projects.