Employees of a growing traffic management company in East Kilbride have recently become the new owners of the business. Apex Traffic Management successfully transitioned to an Employee Ownership Trust (EOT), marking a significant milestone for the company. With 108 employees and depots in locations such as Dumfries, Ashford in Kent, and soon Portlethen near Aberdeen, Apex Traffic Management plays a vital role in providing traffic management services for roadworks across the UK, including major motorway projects.
The company has also expanded its services to include traffic management for major events like meetings at Hamilton and Ayr Racecourses, the Great Scottish Run, the British Open in Troon, and the Festival of Flight in Ayr. This change in ownership occurred after the company’s three previous shareholders turned down offers from potential buyers for the £10 million turnover business and decided to transfer ownership to the employees instead. The directors, Iain Griffin, Daniel McGinley, and Ian Murtagh, who will all continue with the business under the new structure, have collectively built Apex over the past two decades.
Mr. Griffin explained that despite receiving offers from other companies looking to acquire Apex, they chose the route of Employee Ownership Trusts as it provided a long-term exit strategy while recognising the hard work and dedication of their team. The news of the ownership transition has been well received by the staff, with an increased sense of belonging and pride already noticeable among the employees. Some employees have also been promoted to management positions as part of the new structure.
Guided by Ownership Associates and supported by legal advice from Lindsays, Apex successfully navigated the transition to employee ownership. Ownership Associates highlighted the genuine intentions of the selling shareholders to prioritize the well-being of the employees, which ultimately led them to choose the EOT route. Employee-owned companies are becoming increasingly important in Scotland, offering various tax reliefs and benefits for both the business and its workforce.
Overall, this transition to employee ownership marks a new chapter for Apex Traffic Management, showcasing the potential benefits and advantages of empowering employees through ownership. It highlights a shift towards more inclusive and sustainable business models that prioritize the well-being and involvement of the workforce in the company’s success.