The transition will see Dazzle & Inkspot, which is renowned for its fancy dress products, toys, games and recreational merchandise, run by its nine staff members through an employee owned trust.
The firm originated as a printing company in 1969 when Tom Super took up his hobby after working at Rolls-Royce. Since then, the business has adapted throughout the years with trade in stationery and office furniture, art and craft, executive toys and gift lines.
Now fronted by Super’s children; Martin, Marion and Caroline, the second-generation family business is adapting once more. The transition to employee ownership marks the firm down as the 100th Scottish business to adopt the employee ownership trust model.
Martin Super said: “We have been thinking about succession for some time now, and we felt that becoming an employee-owned business was the best outcome for all who are involved with Dazzle & Inkspot.
“It would have perhaps been easier to sell the company to another business. However, we felt the best thing to do was to reward the loyal staff whom have contributed greatly to the success of the business over the years.
“By adopting employee ownership we are giving each one of our employee’s the chance to thrive within Dazzle & Inkspot, while continuing the incredibly hard work ethic that is instilled each day.
“We have always been a family business, and the staff at Dazzle & Inkspot are an extension of this family, and so we are simply putting in place a succession plan that will benefit those whom we care about the most.”
The employee ownership trust was introduced in the 2014 Finance Act to encourage business owners to consider a sale to employees as a feasible succession option.
John Blair of Consilium, the company’s accountancy firm, added: “Dazzle & Inkspot’s transition to employee-ownership has been straightforward and harmonious.
“Employee-ownership is a wonderful way to ensure the long-term success of a business and its employees, and we couldn’t be happier in assisting Dazzle & Inkspot in its transition.”