TECHNOLOGY services specialist Network ROI has become the latest in a growing number of Scottish companies to be bought by its employees.
Ten years after setting up the Roslin-based firm, managing director Sean Elliot is handing over control to the 15 employees that provide IT, communications and cloud services to clients including online tyre retailer Blackcircles of Peebles.
Elliot said it was the best option to safeguard the long-term future of the business.
He said: “Having spent ten years building the business, I’m delighted that I have found an exit strategy that will allow me to realise the value of the business whilst also ensuring that Network ROI continues to operate successfully and preserves our culture.
“Being acquired by the employees is the right strategy for Network ROI – it secures its future in Scotland and stability for both staff and clients.”
The company, which has a turnover of £1.57 million, has been assisted by Co-operative Development Scotland (CDS) in setting up a Share Incentive Plan that initially acquired a 10 per cent stake in Network ROI to be distributed to staff.
The remainder of the shares will be purchased by an Employee Benefit Trust that will disburse future profits to staff at the company.