RR Engineering becomes employee owned

Azets, the Top Ten UK Accountancy firm, has advised RR Engineering Ltd on becoming employee owned.

RR Engineering, based in Scarborough, was set up over thirty years ago by Roy Hendry and Russell Beck. They are handing over 100% of the business to their employees. Karen Bulman, Jamie Thompson, Matthew Taylor and Jamie Dixon will take over the day to day running of RR Engineering.

Since its formation in 1990, RR Engineering has established itself as a leading provider of high-quality products to a range of industries throughout the UK. Standing within a 25000 sq. ft. site, on Eastfield Industrial Estate in Scarborough, RR Engineering offers a complete service from large contracts to small bespoke orders, meeting customers exact requirements.

The company provides sheet metal fabrication and design services working with stainless and mild steel, aluminium and specialised materials using state of the art machinery.

Roy and Russell joint managing directors said: "It's such a proud moment to be able to hand over RR Engineering. Selling the company, we founded to our employees through the creation of the EOT ensures the stability of the business for the long-term and supports our desire for further continued growth.

Established

This move recognises the value that our fantastic team has delivered over the years, and it is a very exciting opportunity for everyone to take a pivotal role as the businesses progress. We’d like to wish the team all the best in their new leadership roles. Creating a great place to work has always been fundamental to our business principles, and we’re very excited about the next stage of the journey."

Tariq Javaid, Corporate Finance Partner at Azets said: “RR Engineering is a business exceptionally well-suited for employee ownership, being an organisation with a strong culture, firmly established values, and an emphasis on the quality of its products and its people. It has been a privilege to work with Russ, Roy and the team in assisting them with this transition and I am confident that the company has a bright future as an employee-owned business”.

RR Engineering Ltd joins many wellknown firms such as John Lewis, Richer Sounds, and 'Tiptree' preserve maker Wilkin & Sons in becoming employee owned. The Employee Ownership Association (EOA) says more than 1200 businesses have now adopted employee ownership and the sector has more than doubled in the past three years.

Recent converts include Go Ape, the treetop adventure company, Riverford, the organic vegetable box company and Aardman, the Bristolbased animation studio behind Wallace & Gromit.