A LONG-ESTABLISHED car dealer is understood to have become the first business of its kind in Scotland to move into employee hands.
Helensburgh Toyota, which has held the franchise for the Japanese marque for 45 years, has been sold to an employee ownership trust on behalf of its 34 employees.
The independent business had been owned by Gary Mulvaney and Ernie Cowan, who will remain in their current roles until March as part of the handover process for the £16 million turnover operation, to the newly formed Helensburgh Automotive Employee Trust.
The switch comes soon after the company, which has two sites in the Firth of Clyde town, recently completed a £500,000 refurbishment of its service workshop.
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Managing director Mr Mulvaney, who joined in 1997, said: “It’s a very exciting time for the company with lots of opportunities ahead. Toyota has been a global leader in hybrid technology for over a quarter of century and is developing a range of electric and hydrogen vehicles to give our customers a genuine choice for the future. We are proud to continue to represent this trusted brand.
“People have always been at the heart of what we do, whether that is staff, customers or the community.
“This felt like a natural transition as the business will remain in the hands of those local staff who have made it what it is. Our customers value the service, the personal attention, and the familiar trusted face when they walk in and that will remain.”
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The new leadership team at Helensburgh Toyota comprises centre principal Tim Roome, general sales manager Kirsteen McGuire, used manager Gavin Wilson, finance manager Jane Victor, service manager Scott Brown, and parts manager Euan McIntosh.
Employee Ownership Associates advised the company on the deal.
Mr Cowan, who has been with the business since 1978, said: “It’s been an honour to help this business grow and thrive, but the time is right for the next generation to take things forward.”
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