Demolition firm Safedem has moved to employee ownership to secure the future of the business in Dundee.
Safedem, which has 36 staff, carries out all forms of demolition projects including specialist explosives engineering services which they carry out worldwide.
Managing director William Sinclair, who will remain in post, said he had changed the company’s structure to reward the contribution of staff.
Mr Sinclair has been managing director since 1994 and has led the company through significant growth from annual sales of £200,000 to £15 million.
He said: “Truly successful businesses stand the test of time with careful succession planning and strategic thinking.
“I have always recognised the contribution of all the Safedem team towards the success of the business.
“The move to employee ownership will allow the business to develop and plan for the future and is due recognition of Safedem’s excellent employees.”
Founded in 1974, Safedem has been responsible for carrying out some of the largest, most complex and high-profile demolition contracts ever undertaken in Scotland.
These include large scale regeneration projects such as Anderston in Glasgow and Ardler in Dundee, both for Sanctuary Group, and numerous complex explosive demolition projects across the country.
The move to employee ownership has been made with immediate effect.
Mr Sinclair said the firm’s clients will see very little change in the day-to-day running of the company.
He said the firm’s commitment to training, health and safety and the environment had Safedem win countless industry awards, including the World Demolition Awards eight times.
“All of these awards have been down to the hard work of the entire Safedem team,” Mr Sinclair added.
“The move to employee ownership recognises that contribution and is a fitting reward for their loyalty and dedication.”
Safedem received professional guidance, advice and support from law firm Anderson Strathearn, and employee ownership specialist Carole Leslie of Ownership Associates.
rmclaren@thecourier.co.uk