Transfer of assets
Grossart Associates breaks ownership mould for engineering firms
New owners: the team at Grossart Associates
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 15 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.