Marketing agency Clean Digital has completed a move to employee ownership.
The Leith-based firm's 17-strong team now have a 'meaningful stake' in the business, as equity has been placed into an Employee Ownership Trust.
To make this happen, the owner sold his shares to the trust, which will be paid for through company profits over a number of years.
Following the transition, managing director Rory Young will continue to lead the business, alongside two newly-appointed board directors. He joined the business in 2013 and managed it with business partner Rod Richmond, until 2020, when he took over as the sole business owner.
Employees will be represented by two new trustee directors, who will be elected by every employee with at least six months service. To be up for nomination, they need to have been with the business for two years.
Young said: “In recent years, we have been focused on developing a long-term plan and thinking about a fairer structure.
“Our business has performed incredibly well and continues to grow in the market, so we wanted to reward the hard work and commitment of our people.
“It’s a great way to reward staff, an attractive benefit for new talent and it helps to future proof the business with succession planning.”
Over the past two years, Clean Digital has experienced significant growth, with an average revenue increase of 55%.
This expansion has led to a rise in employee numbers, from 10 to 17, alongside increased investment in the data and analytics offering.
Specialising in pay-per-click advertising, Clean Digital aims to deliver bespoke strategies that make campaigns more profitable.
Founded in 2012, the business works with more than 100 clients, including Dobbies Garden Centre, BrewDog and Arden University.
Baxendale Employee Ownership assisted in Clean Digital’s transition to employee ownership.
Ewan Hall, director at Baxendale, added: “Employee ownership has been around for decades, but we have seen a real acceleration in the sector recently as more and more businesses become aware of it as an ownership option.
“In particular, we are seeing more businesses like Clean Digital and owners like Rory Young consider it earlier in their business’ development.
“Employee ownership is not just for retiring owners coming to the end of their working lives; it also works for dynamic young businesses and founders who want a fairer ownership structure that incentivises future success and recognises the collective effort that will support this.”
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