A construction and manufacturing group has transitioned to employee ownership as part of its growth strategy to safeguard its future and ensure long-term job stability for its employees.
Established in 1986, Grimsby-based Central Insulations Ltd specialises in designing and building temperature-controlled environments for the food industry.
In 2015, the business expanded its services to pharmaceutical and cleanroom industries, before acquiring Lincs Doors in 2017 and broadening the group’s capabilities to include bespoke industrial door solutions.
Following the creation of an employee ownership trust (EOT) structure, Paul Walmsley will remain in the business, playing a central role in ensuring the successful transition to employee ownership.
Adam Rowson has been appointed managing director, and supported by a board of directors will continue to drive forward the business.
Michael Crook acting on behalf of The Corporate Law Partner has been appointed the chair of the EOT trustee board and will guide the business in its move to employee ownership. The EOT means employees will now hold an indirect stake in the Central group of companies.
Laura Marks, Fiona Bell and George McCaigue from the Share Plans & Reward team, alongside various tax teams at leading audit, tax and consulting firm RSM UK advised on the deal, providing structuring and tax advice.
Marks, tax director at RSM UK, said: “Working with Adam and Paul, we recognised the importance of identifying a solution that aligned with the company’s long-term vision and ensured a secure future for its employees, while allowing for Paul to begin to take a step back.
“Transitioning to employee ownership is a testament to Paul and the management team’s dedication to its people, empowering them to shape its future and share in its success.
“It has been a privilege to advise the company on this exciting move, and I have every confidence it will thrive under this new structure.”
Walmsley, former majority owner and managing director, added: “We’re thrilled to share that Central Insulations and Lincs Doors are now officially employee-owned.
“This marks a significant milestone in our growth journey, placing our talented and dedicated team at the heart of the business.
“By empowering our employees with a genuine stake in the company’s future, we’re reinforcing our commitment to long-term partnerships, quality delivery, and shared success.
“Our focus remains on building sustainable, trusted relationships with our clients and supply chain, and we look forward to continuing our work together.”