EDC Air Compressors joins the other EDC companies as an EOT

edc air compressors becomes an EOT

Driving our success forward, engineering our future and putting the employees in the driving seat.

Ah, there you are, glad you found us. Here's the press release we issued:

As EDC enters its third decade in business, and following significant expansion, the EDC group of companies (EDC Scotland | EDC North East | EDC Air Compressors) has announced that it will become owned by an Employee Ownership Trust.
EDC supply, install and repair ABB variable speed drives and motors and conduct instrumentation calibration for a range of industries and blue-chip companies. The company is recognised as an ABB Motion Value Provider and is also the Endress & Hauser Service Partner for Scotland and the North East of England. The air compressor division was established in 2016 and, working in combination, the trio of companies provides an unparallelled and integrated service in variable speed drives, motors and air compressors. By focusing on solving problems for its customers, saving energy and improving process and plant reliability the company has grown year-on-year and now employs 47 staff across its two sites in Erskine and Gateshead.
The shareholders have sold 100% of the company shares to the Trust.

 "We decided to transition to an EOT to preserve the culture, drive and motivation which created the company and to work even more closely with our customers & suppliers", said Nick Brown, Managing Director.
Added Nick: "The EOT puts our people at the heart of the business. We see it as an opportunity to give our clients even better service. Who better to take the company into the future than the employees themselves and they should continue to share in its success."

The employees of EDC voted three directors to the board of the Trust: David Kerr and Amy Reilly from EDC Scotland and Matthew Hutton from EDC North East. David Kerr is our Technical Director and has been with EDC for 22 years whilst Amy Reilly is the company’s Control & Protection Product Manager and has been an employee since 2017. Matthew Hutton is the EDC NE Office Manager and has been with the company for 7 years.
Speaking about their election they said: “This is a fantastic move by the shareholders. They are demonstrating tremendous faith in the employees and it’s up to us to continue their success. We have the most brilliant team at EDC and we're sure we speak for everyone when we say we’re up for the challenge.”  
Nick will remain as Managing Director, reporting to the Trust.
The EOT now holds the shares on behalf of the current and future EDC employees, with the sale completed on 26/03/2024.
Consilium Chartered Accountants advised on the transaction. Partner John Blair commented: “We are seeing an increasing number of companies looking at the EOT as a feasible succession option. It protects the employment for loyal employees and allows the selling shareholders to exit the business at their own pace. Shaun and Nick were keen to keep the team together and play a key role in the company’s future plans.”
Legal advice was provided by Bellwether Green. April Bingham, Head of Corporate, says: “It was a pleasure to assist on a project that has been a long time in the planning and so important to the management team, who had a clear picture for the group’s future and wanted to build upon the strong working environment they have created over the years."
EDC becomes the latest business to adopt the employee ownership model, which is fast gaining in popularity with more than 1500 business in the UK now in the hands of employees.