TLT assists third-generation Scottish company’s transfer to employee ownership

TLT has advised 76-year-old construction company Robert P Slight & Sons on its sale to an employee ownership trust (EOT).  

The long-established company, based in East Lothian, has been trading since 1948 and was until recently owned by Douglas Slight who is the third-generation Slight family member to run the construction business. The Slight family has ties to globally-recognised landmarks including the United States Congressional Building on Capitol Hill, especially its famous dome, and Bell Rock Lighthouse, the world’s oldest surviving sea-washed lighthouse. 

TLT’s corporate team advised Robert P Slight & Sons on the sale to an employee ownership trust in a way that would allow the business to maintain its unique culture and historical heritage. The team was led by corporate Partner Douglas Roberts, supported by Managing Associate Nimarta Cheema and Associate Faye Saunders.  

Commenting on the sale, Douglas Roberts said: “We are honoured to have played a role in the sale of this family business to an EOT. When we first spoke with Douglas we understood the importance of maintaining the business’s heritage, which includes some significant buildings in history, and values. The transfer to an employee ownership model is a perfect fit, allowing the business to maintain its proud legacy in a new structure which will reward the employees. Personally I was delighted to help an East Lothian-based business, which is situated close to where I was brought up.” 

Douglas Slight said: “A sale to an employee ownership trust allows our values and principles to be maintained, whilst retaining our high standards of workmanship, professionalism and service.  I’m proud of all of our achievements and, of all of our staff.  I would like to thank Douglas and his team at TLT for the way they expertly guided us through the process of moving into employee ownership.” 

 Gordon Buist of EQ Accountants provided all tax and accountancy advice.