Change of structure
Engineering firm Finesse now employee owned
Fraser and Sheila Dunphy with Nathan Christie and Lornette Parker
Electrical & mechanical engineering company Finesse Control Systems, has become Scotland’s latest employee-owned business.
The Arbroath-based designer and manufacturer of industrial automation and process control systems, made the change to an employee ownership trust as owners Fraser and Sheila Dunphy began to consider their retirement plans.
Lornette Parker, who was elected a trustee along with Nathan Christie, said the news was welcomed by the company’s 18 staff.
“This is a great place to work and there was always a concern about what would happen when Sheila and Fraser decided to retire” she said.
As part of the transaction, the company has committed to donating 10% of future profits to charity.
Fraser Dunphy said: “Finesse has always been a company that has taken civic duty seriously.
“We are fortunate to be in the position to be able to give back and improve life for others. It was important to us that this continued.” The company has also committed to continue to recruit and train local apprentices.
Sheila Dunphy added: “We didn’t want to sell to an external buyer. The employees of Finesse have been loyal to us over the years, and we wanted to repay that loyalty.”
Ownership Associates project managed the business transfer process.