Employee buyout at Safedem
Multi-award-winning demolition contractor passes into staff ownership as company enters new era
DUNDEE-based Safedem have announced that ownership of the company has switched – with immediate effect – to the employees who have helped establish the business as a global force in the highly competitive and demanding demolition industry.
The employee buyout (EBO) is designed to secure Safedem’s future and reward the long-serving team which has an ambition to achieve significant further growth under this new structure.
William Sinclair, a former president of the National Federation of Demolition Contractors (NFDC) and of the European Demolition Association, will remain in his post as the company’s managing director.
Mr Sinclair initiated this change in ownership structure to recognize and reward the contribution of the talented Safedem team, many of whom have been with the business for 20 years or more.
The workforce also includes several individuals who joined the company as part of local employment initiatives set up by Safedem clients, including Glasgow Housing Association.
‘Truly successful businesses stand the test of time with careful succession planning and strategic thinking,’ commented Mr Sinclair.
‘I have always recognized the contribution of all the Safedem team towards the success of the business. The move to employee ownership will allow the business to develop and plan for the future and is due recognition of Safedem’s excellent employees.’
Founded in 1974, Safedem have been responsible for carrying out some of the largest, most complex and high-profile demolition contracts ever undertaken in Scotland. These include large-scale regeneration projects such as Anderstonm (in Glasgow) and Ardler (Dundee), both for Sanctuary Group, and numerous explosive demolition projects across the country.
Mr Sinclair insists that customers will see very little change in the day-to-day running of the company and its commitment to training, health and safety and the environment, which has seen Safedem win countless industry awards.
Safedem have been nominated 13 times at the World Demolition Awards, winning on eight occasions and the business was named ‘World Demolition Contractor of the Year’ on two separate occasions.
In addition, the company was the first winner of the Chartered Institute of Building (CIOB) Specialist award, which pitted Safedem against specialist contractors from across the construction spectrum.