Meldrum Group transitions to employee-owned trust

A leading UK construction firm has marked a major milestone by transferring ownership to an employee-owned trust (EOT), securing its long-term future while prioritising a people-focused culture.

Meldrum Group, established by Dave Meldrum in 2001, has completed its transition to an EOT, allowing employees to share in the company’s growth and success.

Dave said: “At a time when the construction industry is fraught with uncertainty, one thing we wanted our people to be certain of is their future here.

“We have worked hard to create an outstanding people-first culture, so an EOT is the perfect way to progress that and ensure we are operating as ‘business as usual’ for our people, clients and suppliers.”

The company enlisted Muckle LLP’s corporate finance team to ensure a smooth, compliant transition. Muckle’s expertise shaped the EOT structure to reflect Meldrum’s commitment to employee empowerment and sustainable growth.

Matthew Walsh, partner at Muckle, was the lead legal adviser to Dave, supported by corporate solicitor Atif Salim.

He added: “This transition to an EOT demonstrates Dave and the management commitment to maintaining yet evolving the excellent organisational culture at the Meldrum Group.

“It also recognises and rewards everyone’s contribution to the business’s success. This is such an exciting time for all involved, and we are delighted to have played a role in it. I look forward to seeing the business achieve even greater things in years to come.”

At a time of strong financial performance, with record profits of £1.9 million reported in 2023, Meldrum Group continues to expand, opening a Cambridge office and launching Meldrum Fire Engineering to meet rising demand. Now operating from locations in Gateshead, Teesside and Cambridge, Meldrum’s 220-strong team delivers end-to-end construction services across multiple sectors.

In addition to Muckle LLP’s guidance, Sintons advised the EOT itself, and Azets provided specialised corporate finance and tax advice, including input from corporate finance manager Oliver Williams and transaction tax expert Adrienne Paterson.

Oliver added: “It was an absolute pleasure to have provided support throughout the transaction and we’re excited to see the business go from strength to strength under EOT ownership.

“Dave’s desire to do the right thing by the business and its staff was clear in our deal structuring discussions and the EOT will preserve the company’s core values and focus on its people.”

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