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EngineeringTayside-based contractor Kilmac is being placed in an employee ownership trust (EOT) by founders Athole McDonald and Richard Kilcullen 18 years after they set the business up from a kitchen table.
It has grown to an annual turnover of £20 million and has worked on high-profile projects including the transformation of Perth City Hall and the latest development phase of the James Hutton Institute in Dundee.
Kilmac acts as the main contractor for local authorities, universities, local health services, road network authorities, council direct labour organisations and private clients, and is the leading groundworks contractor for commercial, social infrastructure and housing projects.
The process of moving the business into employee ownership has been supported by Kilmac’s accountants Azets, legal advisors Thorntons Solicitors, and employee ownership specialists Ownership Associates.
Owners Athole and Richard, both civil engineers who started the business in 2004 after meeting earlier at Dundee Institute of Technology, plan to remain in place for at least the next three years.
Athole McDonald, 53, said: “We have to look to the future and by creating an EOT, Kilmac will be in the safe hands of our excellent senior management team. It’s good news for Tayside, with the vast majority of our staff living in Dundee, Perthshire and Fife, and it ensures the company will continue to provide stability for our customers and job security for our employees.”
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