William Sinclair has owned and led Safedem for over 25 years, building the business up to a turnover of £15m, working hard to maintain the “family” ethos. It’s a company known for its professionalism and quality service, having been twice named as World Demolition Contractor of the Year. In an inspiring and moving speech, William told the employees that Safedem’s achievements were the result of everyone’s hard work. The company’s success was their success.
William explained to the employees that there had been interest in buying the company, and he admitted that there were some attractive offers made. However, his overriding concern was that any new owner might look to restructure the business, break it up, or move way from Dundee and Scotland, and that would jeopardise jobs. So, when it came to considering his succession options, William knew that an external sale was not what he wanted.
His objectives were to secure Safedem for the long term and protect the jobs of the loyal employees as far as possible. William has no immediate plans to leave Safedem, and he wanted some time to plan the future leadership of the company.
William took the visionary and progressive decision to transfer all 100% of his shareholding to an Employee Ownership Trust. These shares will be held for the benefit of all employees at Safedem.
The employees reacted very positively to the news. Carole of Ownership Associates reassured everyone that there would be no personal liability on any individual employee; this was a very good move for the company. She explained that employee owned businesses tended to outperform conventionally structured businesses. Importantly, any big decisions such as relocation or a future sale, could not be made without the employees being involved.
There will be little change in the day to day running of Safedem. William Sinclair has undertaken to remain as Managing Director for at least the next five years. The Board of Directors will still be responsible for the leadership of the business. There will now be three Trustees, all employees of Safedem, who will ensure that the interests of employees will be front and centre of the company for years to come.
‘Carole from Ownership Associates has helped make the transfer to Employee Ownership a seamless and positive transition. Carole’s experience was hugely beneficial during the planning stages of the process, but it has been her support , advice and assurances to employees that has been invaluable.’ William Sinclair, Managing Director, Safedem Ltd