SVM Glasgow Transfer to Employee Ownership
/In late 2022, SVM Glasgow finalised a plan, that had been hatched several years previously,.to change to an EOT SVM will be joining well known brands who have taken this step such as The John Lewis Partnership, Arup, Richer Sounds and many others who felt the model was right for them. We are delighted to announce that on the 7th December the transfer to Employee Ownership was concluded. The transfer to EO shall secure the future of the business by widening the ownership to each current and future employee, with its present senior staff continuing to lead the team with a new sense of verve and excitement.
SVM’s beginnings reach back to 1933, with its first foundation being laid in Copenhagen and quickly growing and spreading to encompass the four corners of the British Isles, then the globe. In the nature of seeking independence, 2008 saw a management buyout from the larger SVM group with the Glasgow office becoming a standalone privately owned enterprise. This new structure permitted flexibility to direct the business in an alternate direction and our place in the transport industry, specifically rail, was developed. SVM Glasgow’s staff numbers increased threefold and turnover raised five-fold in the following years.
To ensure future protection for employees and a solid stage for the next chapter of the SVM journey, the transition to Employee Ownership seemed the obvious route for succession; assuring the client group a familiar organisation and allowing the employees to shape the future of the business while being able to enjoy the associated benefits of an equal profit share, business continuity. Craig Thomas is remaining in his current role, Jamie Taylor has taken up a new position as Director and the senior team are doing a fantastic job of supporting the EO initiative. Their input is invaluable to the direction and continuity of the business and they have an unmistakable enthusiasm as joint-owners of an established business operating in such a specialised and respected industry sector.
Smoothing the way for this transition was Scottish Enterprise with their fantastic online and now in-person expose of other EOT’s, Blackadders for SVM’s legal representation, Sharles Chartered Accountants for their continued guidance and advice and 4 Consulting for their EO transition knowledge, guidance and support. As an EO company, we look forward to serving both old and new clients with every member of staff having a genuine interest in the overall business performance and looking forward to receiving the rewards their efforts have earned.