North Ayrshire Council has welcomed the news that engineering firm Booth Welsh has transferred the company into an Employee Ownership Trust.

This means the firm is now employee-owned and the change will help to secure the Irvine company’s long-term future and cement job security for its 300-plus workforce.

Switching to a Trust is a great example of the Community Wealth Building economic model, which sees wealth being retained locally thanks to local authorities and partners increasing employment and using local produce and resources.

The Council is proudly considered to be leading the way in Community Wealth Building in Scotland.

QuoteCouncillor Marie Burns, Leader of North Ayrshire Council said, “I would like to congratulate Booth Welsh on becoming an Employee Ownership Trust. This is a move that will give staff a stake in the business, and will help the firm to attract and retain quality staff locally. The ownership change is also a fantastic example of Community Wealth Building, which is a key part of Our Council Plan and encourages partnership working with our communities and businesses to ensure we are building the strongest local economy possible. Regionally, we – as a local authority – are committed to working with other anchor organisations to ensure that wealth is owned locally where possible to benefit the people of North Ayrshire. We already work closely with Booth Welsh on a number of projects and partnerships, including our EQUAL Specialist Employability Support (SES) programme, which offers a wide range of tailored support to get people back into work, start work for the first time or take a step up the career ladder. We have also been working together on Irvine’s Digital Process Manufacturing Centre, which is an innovation hub that supports process manufacturing industries and is based within the Booth Welsh manufacturing space at i3 in Irvine. Additionally, the business is also a Living Wage Scotland accredited employer – which brings more benefits to the workforce.”

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Booth Welsh CEO Martin Welsh says the move to employee ownership has been in the pipeline for some time and represents a natural evolution for the business.

He added: “Our people have always been at the centre of Booth Welsh’s success. This is about protecting our strong culture, building resilience and creating a positive future together.”

Booth Welsh was founded in 1989 by John Welsh, in Ardeer, Stevenston, and over the years built on strong foundations to become the innovative, people-centred company it is today.

Mark Lee, a Quantity Surveyor at the company, has been appointed as a Trustee Director on the Trust and says the company will continue to operate in the best interests of its workforce.

He explained: “This is an exciting time for both current and future employees. The EOT model ensures that our values will be recognised, and that we will have a shared purpose in shaping the company’s future from which we will ultimately benefit in its success. Importantly, this move secures a commitment to the long-term future of Booth Welsh within Ayrshire, whilst continuing to have a positive impact on the wider community.”