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Scotsman
09-06-2025
- Business
- Scotsman
Edinburgh store staff secure a stake in business
Staff at a specialist Edinburgh bathroom supplies business have been handed a greater stake in its future. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Ceiling2Floor is the latest brand in Scotland to become employee-owned, opening new opportunities for the three-strong team, based at Sighthill Industrial Estate, to share in its success by being its part-owners. It comes after founders Brian and Bill Crombie agreed a deal with staff to transition Wetrooms International Group, which owns the trade store chain, to an Employee Ownership Trust (EOT). Advertisement Hide Ad Advertisement Hide Ad Edinburgh regional manager Mark Holmes welcomed the news and said: 'Our transition to an EOT is a really positive step. Edinburgh Ceiling2Floor team members Ricky Cassidy (sales assistant / driver), left, and assistant manager Thomas Alston. The store has entered a new era as part of an employee-owned firm. 'While it's business as usual for us and our customers, the change internally gives our management team greater involvement in the business operations, which is really exciting. I'm looking forward to this new chapter.' The Crombie brothers have retained a 26% share of the business as part of the deal and will continue to play key roles in its development, with the firm seeking opportunities to expand across the region and throughout Scotland. Brian said: 'This was the logical step for us to take. Most of our staff have been with us for a long time and we've a great management team. Becoming an EOT is an investment in them, allowing everyone to share further in the future success of the business.' Advertisement Hide Ad Advertisement Hide Ad Bill added: 'The business is in a real period of growth with huge potential to expand significantly over the next five years. We have the right team in place to achieve that.' Wetrooms International has been guided through the transition to employee ownership by Ownership Associates, with assistance from Reference Point Advisory and legal advice from Edinburgh-headquartered Lindsays. Ownership Associates Director Carole Leslie said: 'It's fantastic to see a growing business such as Wetrooms International realise the positive impact of employee ownership, not least allowing the team who have helped deliver its success so far to retain control of its future and share the benefits.' Employee ownership unlocks a capital gains tax exemption for shareholders who sell their shares to an EOT and the ability to reward employees annually with qualifying bonuses of up to £3,600 per year per employee, which can be paid free of income tax. Advertisement Hide Ad Advertisement Hide Ad Nicholas Howie, a Partner in the Corporate Law team at Lindsays, said: 'Brian and Bill's decision to transition to an EOT allows them to continue to play a key role in the future of the business while putting a legal and financial framework in place that creates a long-term legacy for their team. It's the ideal fit for them.' Trustees for the new structure have been appointed from the Celing2Floors team and wider Wetrooms International Group nationally.
Glasgow Times
08-06-2025
- Business
- Glasgow Times
Glasgow bathroom supplies business is now employee-owned
Wetrooms International Group, founded by brothers Brian and Bill Crombie in 2005, employs almost 80 staff, including those working in its Ceiling2Floor branches in Anniesland, Govan, and Kirkintilloch. The Rutherglen-based business has now become Scotland's newest employee-owned company, with the brothers retaining a 26 per cent share in its transition to an Employee Ownership Trust (EOT). Staff have celebrated being handed a greater stake in the firm's success as the business recorded a 20 per cent increase in turnover during the first quarter of 2025. Read more: Spider-Man 4 filming to take over Glasgow city centre this summer Brian said: "For us, this is about building a legacy for our team, recognising the loyalty of our staff. "Becoming an EOT was the logical step for us to take. "It makes sense for everyone. "Most of our staff have been with us for a long time and we have a great management team. "Becoming an EOT opens opportunities for our people to develop their careers, brings benefits to us and provides a level of comfort and confidence to the staff, suppliers and customers we work with that Bill and I are still here. "It's the ideal fit." Bill said: "The business is in a real period of growth with huge potential to expand significantly over the next five years. "We have the right team in place to achieve that." Trustees from the workforce will oversee the business as part of the new EOT structure. Wetrooms International was guided through the transition to employee ownership by Ownership Associates, with assistance from Reference Point Advisory and legal advice from Lindsays. Read more: Glasgow learning campus set to build 'stronger communities' thanks to grant Matthew McPhee, Anniesland branch manager at Ceiling2Floor, said: "Our transition to an EOT is a really positive step. "While it's business as usual for us and our customers, the change internally gives our management team greater involvement in the business operations, which is really exciting. "I'm looking forward to this new chapter." Nicholas Howie, a Glasgow-based partner in the corporate law team at Lindsays, said: "Brian and Bill's decision to transition to an EOT allows them to continue to play a key role in the future of the business while putting a legal and financial framework in place that creates a long-term legacy for their team. "It's the ideal fit for them." Carole Leslie, Ownership Associates director, said: "It's fantastic to see a growing business such as Wetrooms realise the positive impact of employee ownership, not least allowing the team who have helped deliver its success so far to retain control of its future and share the benefits."
