Allstaff becomes an employee-owned business
Date Posted: 8 Sep, 2023
Recruitment specialists, Allstaff, has become the latest business to move to employee ownership. The company has transferred to an Employee Ownership Trust and will continue to provide a professional, expert service whilst retaining their unique company culture. Allstaff has an excellent reputation for the provision of temporary & permanent staff across the Manufacturing, Engineering, Warehouse, Logistics, Office & Professional services sectors from offices in Paisley and Glasgow. Operating mainly within the West of Scotland, Allstaff has been providing recruitment services for over 40 years.
The transaction was initiated by majority owner, Carolyn Moir Grant, who has 30 years’ experience in the recruitment industry.
Carolyn says, “I’m immensely proud of what we have achieved and the long legacy I have been fortunate to be a part of. We have always worked hard for our clients and candidates whilst maintaining many long-term business relationships; built around our ability to understand the pressures both are under and by providing a very personal service. The sale to an Employee Ownership Trust will allow Allstaff to continue our trajectory of growth with clear succession plans ensuring we maintain our great team spirit. Our clients and candidates alike will continue to receive the efficient service we deliver.”
Director Ryan Robertson has been with the company for over 15 years. He sees this as a very positive move for the business. “When Carolyn proposed the idea of an Employee Trust, I was intrigued. I couldn’t see any negatives. The Trust will allow us to maintain our unique way of working. Had we sold to a third party, things may have been very different.”
As part of the move, Gillian Graham has been promoted to the company’s Board of Directors. She says, “It’s an exciting time in the company’s story. We’ve always been a different kind of business. Our focus is on our service, and we strive to be a great place to work and to work with. We now have a secure ownership structure from which we will continue to grow.”
Ownership Associates provided specialist employee ownership advice to the company. Director, Carole Leslie says, “It has been a real privilege getting to know the Allstaff team. Recruitment is a tough sector and the move to employee ownership provides a real point of difference to other companies in the field.
The legal advisers on the transaction were Douglas Roberts and Nimarta Cheema of TLT. Douglas says, “Allstaff is exactly the kind of business that fits well with an EOT. It is a successful business with talented people and astute leadership. By making this move the company can continue to provide quality recruitment services for many years to come.”
Employee ownership has cross party support in both the Westminster and Holyrood governments. It is believed there are now more than 1000 employee-owned companies in the UK, with around 170 head quartered in Scotland. Research demonstrates that companies owned by their employees tend to outperform conventionally structured firms, with higher levels of productivity, customer satisfaction and employee engagement.