Cube Glass has announced that 11 of its team have been allotted up to one fifth of the equity shares in the company by existing shareholders, principally, founder and managing director Gary Thorn.
The Cumbernauld-based precision manufacturer has entered into an Enterprise Management Incentive (EMI) scheme, which entitles shareholders to part-ownership and dividends arising from the profitability of the business.
Thorn explained: “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.
“I want them all to feel part of the business and 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 accountancy firm Robb Ferguson, who 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, high-quality new recruits.”
Cube Glass recently partnered with French design and engineering firm Bel'M, as an addition to its existing supplier relationships with specialists such as Senior Architectural Systems, Metal Technology and Schüco.
In addition, it has just completed a £600,000 investment in a new factory - double the size of the previous premises - and will shortly be opening a new showroom to highlight the expanded range.
Cube Glass focuses on curtain walling, doors, windows, glass roofing systems and shop fronts, as well as bullet, bomb and blast-resistant glass. It supplies sectors including education, health, industrial, social care, commercial property and residential homes.
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