Parkburn is Now Employee Owned
7th February 2023
Parkburn Precision Handling Systems Limited (Parkburn), a privately owned UK marine engineering company with in-house capabilities in design, manufacture, test and installation, has now become employee owned.
The news comes as the company’s founding shareholder directors, Campbell McFall, Dennis O’Hara and Andy Lawson have now transferred all their shares to the Parkburn Precision Handling Systems Limited Employee Ownership Trust (EOT).
The EOT will own 100% of the company, and the employees’ interests as beneficiaries, will now be held in the EOT for their future benefit.
What This Means?
One of the deciding factors in the move towards an EOT was succession planning. By becoming an EOT, this ensures that Parkburn remains true to its core values and the company continues to be successful and will meet its future growth plans.
The current trading company structure and business operations will remain unchanged.
Parkburn’s employees were the main focus point in this decision. This will ensure continuity and job security. They will enjoy all the benefits of owning Parkburn which will promote continued employee commitment and motivation to ensure the future success of the company.
Parkburn clients will see continued levels of commitment ensuring that all projects continue to be managed in the clients’ best interests, not compromising on quality and exceeding expectations.
Parkburn Directors commented, “Having built Parkburn over the last 30 years, the move to an EOT was the right one to ensure Parkburn continues to prosper and develop in the future. With our employees in mind, they have been integral to our success, and the decision to become an EOT was fitting to make certain that it is them who benefit from Parkburn’s success. Our employees’ reaction was positive, and all employees were grateful for this move, as it will enable them to have more input into how the company is run. Ultimately this decision helps to secure the future of the business”