Scottish tech company Cofficient transitions to employee ownership

04/04/2024
The Cofficient team

GLASGOW-BASED business software solutions firm Cofficient has announced its transition to an employee-owned company.

“By placing ownership directly in the hands of employees, Cofficient aims to foster an environment that fuels innovation and exceptional client service,” the company stated.

Darah Zahran, team leader of Co-operative Development Scotland at Scottish Enterprise, commented: “It is great to see another Scottish company embracing the opportunities of employee ownership.”

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.”

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.”

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