Project management training specialist 20/20 is the latest Scottish firm to announce its transition to employee ownership.
Its 20-strong workforce now owns more than 60% of the business, which is based in Westhill, near Aberdeen.
Three founding directors, Tony Marks, Graham Chapman and Neil Harkin, retain the remaining 39%. An employee ownership trust has the option to acquire their shares when they retire.
The firm delivers courses and consulting services globally to clients including BP, Centrica, BAE and Rolls Royce, as well as public sector organisations. It turns over £3 million annually.
The move to employee ownership came after Mr Marks attended a succession planning masterclass run by Cooperative Development Scotland (CDS), which promotes the business model.
Mr Marks said: “Hearing first-hand about the process and experience of becoming employee-owned really helped us understand the potential benefits, and we agreed it was an effective solution to our succession issues.
CDS director Sarah Deas said: “It will help retain jobs and the company’s ethos, whilst allowing the owners to plan their future.