Trust set up
Tachograph firm opts for employee ownership
New owners: the Lisle Design team
A Tachograph technology firm in St Andrews has become the 99th Scottish business this year to adopt an employee ownership model.
Lisle Design has implemented the succession model for its 14 staff with the support of employee-ownership specialist, Ownership Associates.
The £2 million-turnover firm counts German multinationals Continental and ZF Group among its client base.
The business was set up by managing director Mike Lisle 15 years ago and was the first company to develop a digital tachograph download tool which is now used throughout Europe to provide quick intelligence on driving data.
Mr Lisle said: “For some time, I have been looking towards a succession plan and had considered a number of options. Selling to a corporate buyer was an option, but I had reservations of what happens after that. .
“I decided the best route was to adopt employee ownership and seek the assurance of an Employee Ownership Trust.”