Greentech moves to Employee Ownership
Greentech moves to Employee Ownership: Leading sports surface specialists, Greentech Sportsturf Ltd has set up an Employee Ownership Trust to hold 100% of the leading sports and recreational surfaces firm and put it into the hands of the people who work for it – making them the direct beneficiaries of the company’s future success.
Started in 1998 by Kevin Brunton, Hugh Murray, and the late Tom Brannan (who sadly passed away in 2015) the company has grown successfully over the years and has worked on world-renowned fields of play such as Gleneagles, St Andrew’s Links, Hampden Park and Murrayfield Stadium. With Hugh Murray now retired the Directors wanted to look at an ownership succession option which secured the long-term future of the business, its employees and would work well for both clients and founders too. The co-founders were keen to avoid the potential pitfalls of traditional trade sale or merger options, keenly aware of the risks these options can present to employees and the business as a whole. They saw many advantages to employee ownership and believe that it is the ‘win-win’ proposition for everyone – founders, employees and clients.
Greentech moves to Employee Ownership
“The establishment of employee ownership through the EOT at Greentech Sportsturf will provide continued job security for all staff,” said Kevin Brunton. “It will also enable the employees to have collective control of their future, directly benefit from the ongoing success of the business and to continue to deliver market-leading projects in the design, construction, renovation and maintenance of sports surfaces.”
Employee ownership is growing significantly in popularity, with more and more companies seeing the benefits that can be delivered through this ownership model. Studies have demonstrated that employee owned firms are also more resilient and are proven to weather economic cycles better than most. This may prove to be important as firms the world-over deal with the impact of the coronavirus pandemic.
Eric Carroll, Financial Controller at Greentech Sportsturf, commented: “I’m delighted that Kevin and Hugh have chosen this option for ownership of the business and I think this is great news for all the staff at Greentech Sportsturf. Everyone one of us now has a stake in the business and can share in the success and profits that are made going forward.”
Kevin Brunton believes that employee ownership is good news for clients too and will help to secure the long-term future of the company. “Employee ownership means clients need not be concerned with Greentech Sportsturf being acquired and the potential associated disruption that can lead to. They can feel secure in the knowledge we will continue to deliver the highest quality sports surfaces projects with our talented team of people and the best technologies for the job in hand.” Said Kevin. “It also gives the co-founders the opportunity to consider retirement and eventual exit from the business in a planned manner, mentoring the successor team whilst withdrawing slowly and ensuring continued growth and success. It really is a win-win all round.”
Greentech Sportsturf is a Scotland-based, leading sports turf contractor, specialising in the design, construction and renovation of all sports surfaces. The company has a diverse client base comprising world renowned fields of play including St Andrews and Gleneagles Golf Courses, Scotland’s national football and rugby stadiums, as well as smaller and regional sports facilities. Located on the outskirts of Stirling at Throsk, the company operates throughout the UK.
For further information contact Eric Carroll on mailto:eric@greentechsportsturf.co.uk
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