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North-east company announces significant move to safeguard future of employees

North-east company announces significant move to safeguard future of employees

 

In a significant step to guarantee collective success for employees and the company, Aberdeen-headquartered, engineered leak sealing solution specialist Kinetics Controls and Innovation Ltd (KCI) has announced the transfer of shareholding to an Employee Ownership Trust (EOT).

As the founder, CEO and previous owner, Roy MacKenzie considered moving towards retirement, they were keen to ensure a strategy and plan was in place to safeguard the future of the company and its valued employees.

Through transfer to an EOT, the business will continue to operate following the company’s established shared vision and values, delivering the same level of success and quality that customers have come to expect from KCI.

Kevin Watt, KCI's Managing Director, commented on the transfer and its impact on the company's future: “This transition marks a significant milestone in our company’s journey and reflects our commitment to our employees and the long-term success of our business. Through this transfer of shareholding, we can empower our team to continue to deliver the same quality our customers have always received when working with KCI while reinforcing a desire for the company's continued success.”

“At the heart of this decision is our dedication to protect our employees and commitment to continuously meeting and exceeding our customers’ expectations. A business structure designed to promote collective responsibility will also benefit our customers. A more collaborative workforce provides a strong focus on delivering quality services, motivating employees to deliver for our customers.  Thank you to our advisors, TLT, JCCA, and Ownership Associates UK, for supporting us in successfully transitioning.  This is such an exciting landmark in KCI’s journey, and we are confident it will lead the company from strength to strength.”

KCI has shown the ability to increase turnover from 2.5 million in 21-22 to 2.9 million in 22-23 and is projecting a 10% growth in turnover year over year for the next five years.

Read the latest issue of the OGV Energy magazine HERE

Published: 25-03-2024

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