Tough Construction, a Glasgow-based construction company founded in 1974 has been working on projects for house builders in Central Scotland, Perthshire, Fife, and Ayrshire. The Construction company has now transitioned to employee ownership, with more than 500 employees becoming owners through an employee ownership trust.
The decision to implement an employee ownership plan was driven by the intention to maintain the company’s commitment to its loyal team by providing them with job security and ensuring continuity of service to clients. The move has been well-received by staff and clients.
Under the new ownership structure, Gary Hassan becomes the commercial director while Mhari Greer is promoted to finance director. Construction director, Craig Lavery; procurement director, Gillian Beaton; and managing director, Alistair Lauder join the board. The shareholders of the company, Bob Leishman, George Duncan, and Kenny MacKenzie, will retire after the completion of the transaction.
Alistair Lauder expresses excitement about leading the company during this significant transition and is confident in the bright future of Tough Construction.
The sale to the Employee Ownership Trust sets a benchmark for Tough Construction as it celebrates its 50th year in business. The company’s succession planning process and transfer to employee ownership are being managed by Azets, an accountancy firm.
The transaction is considered the largest Employee Ownership Trust in Scotland till today, and Azets congratulates the shareholders and new management team on this successful transition of the plan.