ALTAR Group Make The Move To Employee Ownership
We recently supported marketing, design, and digital agency, ALTAR Group, to hand over the business to their dedicated and driven employees.
Dundee based ALTAR Group is comprised of Avian, a design and brand development studio; Blue2 Digital, a web-design, development, and digital marketing agency; Ginger PR, a public relations and communication agency, and Kolabo, a digital research and development consultancy.
With 38 members of staff, the group has gone through a period of growth and significant transformational changes over the past two years by investing in people with senior appointments, acquiring another business and recruiting new clients across the group.
As accountants and advisors to the company, our Partner and Head of EQ Taxation, David Morrison, had initial conversations with Chief Executive of ALTAR Group, Scott McCallum, about the future of the business and his succession plans. After discussing various options, it was clear that an Employee Ownership Trust was the right route for the business.
Scott, who will continue to lead the group, commented, “Our culture, and our people have always been incredibly important to us and the team at EQ know that. When David suggested this as a route, we knew it was the only option worth considering for the future of ALTAR. We are putting our trust in the people who make the business what it is, and hope that this move with continue to help us build an integrated team.
“We’ve had the support of EQ for many years now, and their help throughout this process has been invaluable. It’s great to look at the future and know we are in the best position to keep accomplishing results for the group to the benefit of all employees and have assistance from advisors that have out best interests at heart.”
Our employee ownership expert and Partner, Doug Rae, got involved to help facilitate the move which now benefits the employees of the group who now indirectly own a majority stake of 60% of the business. The remaining 40% is held by the original shareholders and key staff members.
Doug Rae, added, “We made sure that we discussed all aspects of the process with Scott and the team, ensuring everyone was happy as we progressed through to completion. ALTAR is a dynamic group of creative agencies who always seek to stand out and by helping them to secure the future of the business and safeguard their talented team, we know that they will continue to go from strength to strength.”
For more information on ALTAR Group, visit – https://www.altar.group/.
If you’d like to discuss the possibilities of employee ownership for your business, please get in touch with our experienced Employer Solutions Taxperts by calling one of our offices or emailing [email protected].