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06/05/2021
Kilnbridge Transitions To Employee-Owned Business
Contractor Kilnbridge has transitioned to become an employee-owned business.
Dermot McDermott, who founded the business and grew it as a privately-owned company for 30 years, has transferred his entire holding into an Employee-Owned Trust (EOT). The shares in the company are now held, collectively, on behalf of all Kilnbridge employees, in the Trust.
Dermot will remain as CEO of the business and with the support of the existing senior leadership team will continue to drive the company forward.
Dermot said he was immensely excited about the benefits that employee-ownership would unlock in the long-term for its employees, clients, supply chain and other stakeholders.
He said: "As we move forward into the next stage of our journey, I know that employee-ownership will be a great fit for our business.
"To be able to provide the team with a stake in their business and an opportunity to have a say in its future success, while staying true to the values and ethos we hold dear, is both reassuring and exciting."
Dermot McDermott, who founded the business and grew it as a privately-owned company for 30 years, has transferred his entire holding into an Employee-Owned Trust (EOT). The shares in the company are now held, collectively, on behalf of all Kilnbridge employees, in the Trust.
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Dermot will remain as CEO of the business and with the support of the existing senior leadership team will continue to drive the company forward.
Dermot said he was immensely excited about the benefits that employee-ownership would unlock in the long-term for its employees, clients, supply chain and other stakeholders.
He said: "As we move forward into the next stage of our journey, I know that employee-ownership will be a great fit for our business.
"To be able to provide the team with a stake in their business and an opportunity to have a say in its future success, while staying true to the values and ethos we hold dear, is both reassuring and exciting."
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