Scottish tech firm Cofficient becomes employee-owned

By placing ownership directly in the hands of employees, Cofficient aims to foster an environment that fuels innovation and exceptional client service. The dedicated team, now with a personal stake in the company’s success, will be further driven to deliver results for valued clients.

Darah Zahran, team leader of co-operative development scotland at Scottish Enterprise, said: “It is great to see another Scottish company embracing the opportunities of employee ownership.

“The advantages are easy to see – not only does it give employees a meaningful stake in their organisation together with a genuine say in how it is run, but employee-owned businesses are also proven to be more resilient during times of economic crisis, more productive, more profitable and have more engaged staff.”

Cofficient’s directors and co-founders, Paul Grant and Paul Tindal, see this transition as a natural evolution of the company’s core values.

“We’ve always believed in putting our people first,” said Mr Grant. “Employee ownership is a perfect fit for our vision. It empowers our team and allows them to share directly in the rewards of their hard work and dedication.”

Luise Reid, an ERP consultant at Cofficient, echoed: “This is an exciting time to be part of the Cofficient team.

“Knowing that we’re all owners strengthens our sense of purpose and gives us even greater motivation to deliver exceptional service to our clients.”

Mr Tindall added: “We’re incredibly optimistic about what lies ahead.

“Together, we’re ready to take Cofficient to the next level, continuing to provide exceptional service and innovative solutions for our clients.”

John Blair, corporate finance partner at Consilium, who provided financial advice on the transition, said: “We are delighted to have supported Cofficient on the transition to employee ownership and we look forward to seeing the business go from strength to strength.

“We are advising on an increasing number of similar transactions as owners start to see the tangible benefits of employee ownership.”

David Beveridge, managing director of Macdonald Henderson, who provided legal support to Cofficient, said: “It has been Macdonald Henderson’s privilege to have supported the company on corporate and commercial (legal) matters for a number of years, and to witness the growth of the business and its blue chip client base.

“We are delighted to have advised Cofficient and its dynamic leadership team on this exciting transaction, and wish the employees and all stakeholders every success for the future.”