The founder of Cube Glass has offered 11 longstanding team members up to one fifth of the equity shares in the company. The arrangement entitles shareholders of the Cumbernauld-based precision manufacturer to part ownership and dividends arising from the profitability of the business, under HMRC’s approved Enterprise Management Incentive (EMI) scheme.
Gary Thorn, founder and managing director of the Scottish glass and aluminium specialist, said: “After more than 10 years of active trading as Cube Glass, I wanted to show my appreciation for the huge contribution our colleagues have made to the company over the years by their dedication, commitment and real skill in their diverse roles. There is really no more to it than that.
“I want them all to feel part of the business. By being part owners, I believe I can support that aim. In addition, the company has just introduced private health cover for everyone who works here.”
Andy Logan, managing partner of Glasgow-based CA firm Robb Ferguson, which oversaw the transaction, said: “Gary wants the people who helped him build the business to share in its financial success. The EMI scheme is an excellent way to reward valued colleagues and it surprises me that so few businesses elect to go down this road. Gary has had the foresight to do so, and I believe it will serve him well in attracting both new business and, potentially, first class, high-quality new recruits.”
Cube Glass has recently partnered with high-end French design and engineering specialist Bel’M, as an addition to its existing supplier relationships with specialists such as Senior Architectural Systems, Metal Technology and Schüco. The business has also completed a £600,000 investment in a new factory which is double the size of Cube Glass’s old premises. The site is set to shortly have a new showroom in which to highlight the company’s expanded range.
