Founded in 1991, Prepress Projects celebrated its 25th anniversary in 2016. It was then that the joint owners, wife Helen MacDonald and husband David MacDonald, started to think about the business’ succession planning and made the decision to move towards employee ownership.

Mrs MacDonald said: “We were keen to ensure that the company would continue to exist long after we retired or otherwise took a step back. And we wanted to do this in a measured and planned way, to ensure a seamless transition to the new business model, whatever form that was going to take.

“Now, six years later, we have just sold the company to its employees.”

She added: “We have, of course, considered other options in the meantime, for example a commercial sale of the company or a management buyout. We even received, and declined, an unsolicited offer to buy the business (if nothing else, it was nice to feel wanted).

“However, we instinctively felt that employee ownership was the right way to go for an enterprise such as ours, and we set about ensuring that we had the people, systems and organisational structure in place to make it a success.”

Noting that in 2013 the firm appointed a third director, Lucy Harrier, Mrs MacDonald said: “Since then, we have gradually delegated many important processes to managers and other senior colleagues, such as tendering for new business, creating quotations, invoicing clients and recruitment and training. Our aim was to make David and me, as owners, redundant as managers.”

“By mid-2021 we were ready to move from succession planning to implementation. An independent feasibility study, funded by Scottish Enterprise, confirmed that employee ownership not only was possible, but was the most viable option to secure the long-term future of the business and safeguard local jobs.

“Around the same time, we joined the Employee Ownership Association (EOA) and selected a consultancy to facilitate the transition process. From a pool of specialist organisations, we chose Baxendale Employee Ownership, which has proven to be both invaluable and highly experienced (and a pleasure to work with).

“An employee ownership trust (EOT) now holds the shares in Prepress Projects Ltd, i.e. it owns – but doesn’t manage – the company on behalf of its employees. A Deed of Trust regulates the EOT. An employee trustee director, Gillian Whytock – one of our principal project leaders, with over 20 years’ service – has been elected by members of staff.”

She continued: “As a further step towards a new management structure, I stepped down as managing director in August, making way for Lucy to take over and put her stamp on company culture. Along with David, who has recently resigned as a board director, and Gillian, Lucy will sit on the EOT board, as well as being MD.”

“The main company board will continue to run the company, as at present.”

Mrs MacDonald will remain the main board, as editorial director, and plans to stick around for a couple of years to support Ms Harrier and the rest of management team.

Mrs MacDonald said: “I know the company is in good hands, and this is endorsed by the fact that Lucy was recently awarded the status of chartered director by the Institute of Directors, something that required a great deal of effort on her part.

“It is likely that, in time, we will appoint another main board director – that may be an existing member of management team or one of our senior staff members, but in principle it could be any employee who proves to have the right blend of publishing and business skills (both are essential) and a strong commitment to the future of the company. I think it is fair to say that we already have some excellent colleagues, and intend to recruit more in future.

“It remains only for David and me, as exiting owners, to wish the business and all its employees the very best for the future. Trading conditions for all businesses are some of the most demanding that I’ve seen since starting the company over 30 years ago.

“We continue, however, to renew existing contracts as well as win new ones, including in recent months in countries outside our traditional European marketplace. We may be a small business, but we have become truly global in reach.”

Reassuring current clients and business partners, Mrs MacDonald added: “your company contacts here are unlikely to change as a result of the sale, and the company values remain the same. The business intends to continue providing first-class publishing services, as in the past, and aims to be around for many years to come.”