Engineering firm Martin Precision has marked its 30th anniversary by moving to employee ownership.

Established by William Martin the Lanark-based company supplies components to the aerospace, defence and energy sectors. It has a turnover of £5.2 million and 49 employees.

Mr Martin said: “The business is performing well; it has survived and prospered despite Covid which brought the aerospace Industry to its knees.

“This success is in no small part due to the commitment and skill of our employees, and it is fitting that they have a secure future.

“I will retain a small minority shareholding in the business and continue as managing director focusing on our growth strategy.”

Employee ownership specialist, Carole Leslie advised on the transaction. “Martin Precision is
a company that recognises the importance of valuing their people and building strong
customer relationships,” she said.