By Scott Wright
THREE directors of a Stirling-based recruitment consultant have completed a management buyout of the business.
Long-serving executives John-Paul Toner, Julie Fleming and Alan Shave have acquired Contract Scotland from founder Colin Woodward, who has taken on an advisory role further to the deal.
Contract Scotland, which specialises in technical and professional recruitment, employs 25 people, turning over £14 million.
Mr Toner, who has been with the company for 18 years, is now majority shareholder, with Ms Fleming and Mr Shave having acquired “notable” stakes.
Mr Toner said: “Colin has built a successful and respected company over the last 30 years which has redefined recruitment. Succession planning has always been high on the agenda and having developed my own career here and been part of the company’s journey, I’m excited and enormously proud to be part of the leadership team shaping its future. Together with Julie and Alan, our ambition is to build on the legacy Colin has created, and retain the values and ethics that the business was founded on that are an integral part of our culture.”
Mr Woodward said: “I’m delighted to be able to hand over the ownership of the business to the individuals that currently run it and have been doing so for the past couple of years, through some of the most turbulent times in our 30-year history.
“There are many exciting challenges and opportunities ahead, which John-Paul, Julie and Alan have the capability and experience to navigate. On a personal level, I’m pleased to be handing over to three members of staff who all joined the business as trainees and have progressed through the business on merit.”
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