A Fife family window fitting firm have handed over the reigns to staff, who now own more than 70% of the business.
SRJ Windows was founded in 1992 by the Macintosh family.
Since then, they have built a reputation across Fife, the Central Belt, Tayside and Perthshire among customers and staff.
And for nearly a decade, the firm has been the main sponsor for Dunfermline Athletic, their logo adorning the front of the first-team kits.
Seventy jobs have now been secured, the firm said, after the employee ownership trust was handed control.
Employee Ownership Trust handed shares
Following a breakfast meeting at headquarters on Wednesday, staff were told the majority of the company was now owned by them through an Employee Ownership Trust (EOT).
An EOT is a government initiative aimed to promote employee ownership.
It gives business owners the opportunity to sell their shares to an EOT, free from capital gains tax.
It also allows the company to continue trading as it is, following an owners’ decision to retire.
Staff now in the frame
SRJ Windows has restructured, with staff in the trust now owning 71.7% of shares.
The Macintosh family retains the remaining 28.3%.
Co-founder Keith Macintosh said staff were “delighted” when the news was announced.
He said: “We have spent the last 32 years building a brand that my family and our staff are extremely passionate about.
“We have been very fortunate our staff are not only loyal, but have constantly adapted to the changing requirements of both our business and customer needs.
“Not only does this new structure reward staff for all of their efforts, but we wanted to ensure that our customers continue to have the best experience of dealing with staff, who are totally invested in and committed to, delivering the best experience of service.
“We had to consider our retirement options and we knew that would have consequences.
“A sale to an external buyer would have been too disruptive and we have always wanted the business to remain local, to protect jobs and the identity of the company.
“Although an external sale would likely have been a more lucrative outcome for the family, the EOT ownership structure maintains our relationships with suppliers and customers.”
Worked their way up
Keith notes a number of the new shareholders had been with the company for a number of years.
“Colin Wardlaw, our project manager, joined the business 30 years ago as a joiner and is now running the sunroom installation division,” he said.
“Gavin Cooch, installations manager, joined the business 26 years ago as a glazier and is now running the windows and doors installation division.
“And John Hall, installations co-ordinator, joined the business 22 years ago as a glazier and now co-ordinates all window and door installations.”
