TLT advises leading UK and Ireland specialist tour operator on its transition to employee ownership

TLT has advised Glasgow-based tour operator McKinlay Kidd on its sale to an employee ownership trust, demonstrating the firm’s expertise in the employee ownership model.

McKinlay Kidd is an award-winning tour operator founded in 2003, offering tailor-made holidays to Scotland, Ireland, England, Wales and the Channel Islands.

The transition to an employee ownership model will support the continued growth and succession of the tour operator, ensuring that the company’s core value of putting people first will be maintained. The new ownership model will also allow the business to maintain its exemplary customer service and reinforce the importance of the human touch in delivering holiday experiences.

McKinlay Kidd is now owned by The McKinlay Kidd Employee Ownership Trust – as 100% shareholder - for the benefit of its 25 employees as co-founders Heather McKinlay and Robert Kidd take a step back from the business.

TLT provided legal advice throughout every step of the transfer. The transaction was led by corporate partner Douglas Roberts, with support from senior associate Nimarta Cheema and associate Faye Saunders.

Heather McKinlay, co-founder of McKinlay Kidd commented: “This is a milestone moment for McKinlay Kidd. After considering our options, Robert and I felt that employee ownership was the right succession plan as it will allow the business to continue thriving under an ownership model that will benefit our employees as well as our customers. TLT helped us navigate the process, assessing our needs and what we wanted to achieve. Their knowledge of the legal processes underpinning employee ownership was invaluable.”

Nimarta Cheema, senior associate in TLT’s corporate team said: “It was a pleasure to support McKinlay Kidd on this next step in their growth journey. The last twelve months have seen a steady increase in interest in the employee ownership model as business owners pay closer attention to their succession. Employee ownership not only allows businesses to maintain their company culture, it is also a forward-thinking way of recognising the essential contributions of employees and attracting and retaining valuable staff.”

Christopher Blunn and Peter Heslington of Praxis Advisory LLP advised on tax matters and Ralph Leishman of 4Consulting provided employee ownership support.

So far in 2024, TLT has completed ten transitions to employee ownership in Scotland alone, reflecting the rise in popularity for this ownership model.