R&W Scott transitions to Employee Ownership Trust (EOT) with support from Shawbrook

R&W Scott, a well-established manufacturer with a 144-year history, has taken a bold step towards employee ownership. The company’s shares have been acquired by an Employee Ownership Trust (EOT), allowing its staff to have a stake in the company’s future without the need to directly own or buy shares.

Under the new ownership structure, R&W Scott’s senior leadership team, including managing director Stephen Currie, commercial director Clare McNeil, and finance director Michael Hewitt, will continue to oversee day-to-day operations. John Easton, an outgoing shareholder, will also hold a position on the Trust board to represent the interests of the previous owners.

Commenting on the transition to employee ownership, Clare McNeil emphasized the importance of safeguarding employment and ensuring sustainable growth. She stated, “Many businesses in our sector are acquired by larger competitors or outside investors as they grow. To safeguard employment here and continue to deliver sustainable growth, we’ve created the R&W Scott Employee Ownership Trust.”

The company has secured external funding from Shawbrook, a specialist bank, to facilitate the EOT transition process. This funding will support the acquisition and help with R&W Scott’s continued growth plans.

Finance director Michael Hewitt expressed confidence in the decision to move towards employee ownership, highlighting the long-term benefits for the company and its employees. He stated, “The decision to move to employee ownership feels right for our business right now, and we want to make this move as seamless and effortless for everyone involved.”

The transition to an EOT was driven by a desire to maintain the company’s independence and recognize the hard work and commitment of its employees. David Cayzer, director at Shawbrook, noted the increasing popularity of EOTs as a succession planning option for business owners looking to retire. He expressed excitement about working with R&W Scott and supporting their growth through this new stage of their journey.

Overall, the move towards employee ownership marks a significant milestone for R&W Scott, reflecting a commitment to sustainability, growth, and employee empowerment.