Highland-based fuel company turns to employee ownership
A Highland company has transferred a majority number of shares to its employees.
Highland Fuels, which employs more than 250 people around the country, has announced their decision to become an employee-owned business.
The company, which has been running for more than six decades and operate a fleet of more than 45 road tankers, with 11 depots based across Scotland,
Chairman and owner, George Shand said: "We’re proud of being different. We’re a Highland-based company with a very wide reach. We live our values."
Mr Shand previously led a management buyout of Highland Fuels in 2001 which according to Highland Fuels was built around ensuring that the company remained firmly in local hands.
He said that he was keen to find a business model that preserved the heritage and maintained continuity of operations and employment for the long term.
The employee ownership route was identified as the most suitable option.
Managing Director Stephen Rhodes added: “Employee ownership is perfect for us. It truly enables every single employee to benefit from the company’s advancement and provides the right platform for us to realise a positive culture, high engagement and great performances as we progress to the future”.
Employee ownership is an increasingly popular route for many private companies.
There are now over 1,400 companies with this structure in the UK, with 170 of them in Scotland – and with Highland Fuels now part of this group – and one of the largest – it certainly reinforces this positive trend.
