EMPLOYEES BECOME OWNERS OF FAMILY BUSINESS
A family-run business of over 50 years has entrusted its staff to take the reins after adopting employee ownership.
Dazzle & Inkspot Ltd, renowned for its officially licensed fancy dress products, toys, games and recreational merchandise, has secured the long-term futures of its employees by transitioning to the ownership model.
The Hamilton-based firm was formed by Tom Super as a printing company in 1969.
Since then the business has adapted with trade in stationery and office furniture, art and craft, executive toys and gift lines.
Now fronted by Tom’s children; Martin, Marion and Caroline, the second-generation family business is adapting once more – by rewarding its nine staff who have become beneficiaries of the Employee Owned Trust to whom the three shareholders sold their shares.
Dazzle & Inkspot’s transition to employee ownership marked the firm down as the 100th Scottish business to adopt the model.
Director, Martin Super (pictured), said: “We have been thinking about succession for some time now, and we felt that becoming an employee-owned business was the best outcome for all who are involved with Dazzle & Inkspot.
“It would have perhaps been easier to sell the company to another business. However, we felt the best thing to do was to reward the loyal staff who have contributed greatly to the success of the business over the years.
“By adopting employee ownership we are giving each one of our employee’s the chance to thrive within Dazzle & Inkspot, while continuing the incredibly hard work ethic that is instilled each day.
“We have always been a family business, and the staff at Dazzle & Inkspot are an extension of this family, and so we are simply putting in place a succession plan that will benefit those whom we care about the most.”
The Employee Ownership Trust was introduced in the 2014 Finance Act to encourage business owners to consider a sale to employees as a feasible succession solution.
Some of the new owners are pictured below.