TLT advises T&N Gilmartin on transfer to Employee Ownership

National law firm, TLT, has advised Fife based contracting firm, T&N Gilmartin, on the transfer of its entire shareholding to an Employee Ownership Trust (EOT).

T&N Gilmartin is a third-generation family business with a history stretching back over 60 years, specialising in landscaping, civil engineering, grounds maintenance, street lighting and surfacing. Transferring to employee ownership will allow the company to maintain its existing ethos, character and values, maintain jobs in the local area, and reward its long-standing employees.

TLT provided legal advice on all aspects of the transaction with the experienced EOT team led by corporate partner Douglas Roberts, supported by senior associate Nimarta Cheema and associate Faye Saunders.

Philip McElhinney, managing director at T&N Gilmartin commented: “The move to employee ownership will reward our excellent team for their outstanding work for the company so far, as well as empowering them to continue delivering excellent results for our clients. It is reassuring to know that the sense of collective responsibility that an EOT can foster will help support the company for years to come.

“TLT provided consistently excellent service throughout the transaction. Their knowledge and experience were vital to the entire process”.

Douglas Roberts, corporate partner at TLT added: “It was a pleasure to play our small part in T&N Gilmartin’s transition to employee ownership and to assist the current shareholders in achieving their plans for the future of this highly successful family business. The company has a long history and its fantastic reputation will continue to grow with employee ownership.”

“This latest transition to employee ownership is reflective of the huge interest in EOTs which we are seeing across the wider market, as businesses realise that employee ownership allows them to secure a stable, prosperous future and provide security to their vital employees.”