The transaction was formally completed on 2nd April 2025, with the assistance of HSBC Bank UK plc, Johnston Carmichael’s corporate finance team, Burness Paull LLP, TLT LLP and Ledingham Chalmers Solicitors.

Headquartered at the Stirling Agricultural Centre and operating marts across Scotland including Huntly, Lairg, Dalmally, Oban, Tiree, Islay, and South Uist, the company believes this is the first such move for a livestock auctioneering business.

Established in 1858, UA employed 91 people in 2023. The transition to an EOT ensures these employees now have an indirect stake in the business and a stronger voice in its future direction. This structure is designed to secure the long-term success of the company, maintain continuity for customers and stakeholders, preserve the firm’s culture, and keep decision-making local, distinguishing it from traditional mergers or buyouts.

The existing board of directors – comprising John Roberts, Donald Young, Christopher Sharp, David Brown, Richard Henderson, and Peter Wood – will continue to manage the business, albeit in evolving roles.

Mr Roberts, now executive chairman of United Auctions, said: “By becoming employee-owned, we are reaffirming the future of United Auctions for our employees while safeguarding the values that have made us a trusted name in livestock auctioneering.”

Mr Young who is now joint managing director of United Auctions alongside Mr Sharp, said: “As we move forward as an employee-owned business, customers and farmers can rely on the same level of service and commitment that our staff have upheld for years.”

The new trustee board comprises George Purves as chairman, Mr Brown as employee trustee director, and independent trustee director Jane Johnston.

Mr Purves, who is stepping down from operational duties at United Auctions to chair the Trustee Board, said: “The success of United Auctions has always been built on the dedication of its team and the trust of its customers.

“This new model preserves independence and empowers employees with a tremendous opportunity to drive the business forward and ensure its continued success.”

Nigel Kerr, global relationship director at HSBC UK, said: “This is a brilliant opportunity for United Auction’s to bring employees to the forefront of the company and we are pleased to support them in this transition. This move will provide continuality for customers and stakeholders and strengthen the position the company going forward.”

Andrew Ewing, corporate finance partner at Johnston Carmichael, said: “We were delighted to assist with the transaction to bring United Auctions into employee ownership.

“This crystalises a long association between the company and the Johnston Carmichael corporate finance team which has assisted in providing strategic advice to the management team over the last few years. The deal aligns very much with the principles of the company and its loyal staff and client base and provides a significant platform for the continued successful growth of the business”

Douglas Roberts, corporate partner at TLT said: “It was fantastic for our EOT specialists and Banking team to be involved with this landmark EOT deal for Scotland. United Auctions is the leader in its field and its employees now have a fantastic opportunity to drive the business forward and benefit from its continued success.”