Stornoway production company MacTV, one of the biggest producers of programming for BBC Alba, is the latest Scots firm to become employee owned as its managing director looks to retire.
The documentary, arts and music show specialist, which has its main production base in the Hebrides as well as staff in the Central Belt, has transferred 90 per cent of its shares to 18 employees.
MacTV, whose productions include the Gaelic language channel’s flagship documentary series Trusadh, worked in conjunction with Co-operative Development Scotland, the arm of Scotland’s enterprise agencies that supports employee ownership transitions.
MD Bill Morrison said: “A traditional trade sale may have seen us bought by a competitor, potentially risking job security and compromising our offering.
"Employee ownership ensures that the company is owned by and run for the benefit of those most close to it, while providing ongoing economic benefit to the area by anchoring the work and jobs in the local community.
"Our new employee-owners now have an increased stake in their own future, with a say in the business, empowering them to shape its direction and drive growth.”
The process was managed by 4-consulting, with legal services provided by Blackadders and accountancy support from Mann Judd Gordon.
Head of Co-operative Development Scotland, Clare Alexander, said: “Companies in Scotland are increasingly recognising the many benefits that can be gained from employee ownership, such as its effectiveness at retaining skills and jobs locally.
"This is particularly crucial in areas like Stornoway, where small businesses are a key driver of employment and provide a significant contribution to the local economy."