EDC supply, install and repair ABB variable speed drives and motors and conduct instrumentation calibration for a range of industries and blue-chip companies. The firm has grown year-on-year and now employs 47 staff across its two sites in Erskine and Gateshead.

The shareholders have sold 100% of the company shares to the newly formed EOT.

Managing director Nick Brown said: “We decided to transition to an EOT to preserve the culture, drive and motivation which created the company and to work even more closely with our customers & suppliers.”

He added: “The EOT puts our people at the heart of the business. We see it as an opportunity to give our clients even better service.

“Who better to take the company into the future than the employees themselves and they should continue to share in its success.”

Employees elected David Kerr, Amy Reilly, and Matthew Hutton as directors to the trust’s board.

David Kerr is the company’s technical director and has been with EDC for 22 years whilst Amy Reilly is the control & protection product manager and has been an employee since 2017. Matthew Hutton is the EDC NE office manager and has been with the company for seven years.

Speaking about their election they said: “This is a fantastic move by the shareholders. They are demonstrating tremendous faith in the employees and it’s up to us to continue their success.

“We have the most brilliant team at EDC and we’re sure we speak for everyone when we say we’re up for the challenge.”

Mr Brown will remain as managing director, reporting to the EOT, which now holds the shares on behalf of current and future EDC employees after the sale’s completion on 26 March 2024.

The transaction was advised by Consilium Chartered Accountants.

Consilium partner John Blair commented: “We are seeing an increasing number of companies looking at the EOT as a feasible succession option.

“It protects the employment for loyal employees and allows the selling shareholders to exit the business at their own pace.

“Shaun and Nick were keen to keep the team together and play a key role in the company’s future plans.”

Legal advice was provided by Bellwether Green. April Bingham, head of corporate, says: “It was a pleasure to assist on a project that has been a long time in the planning and so important to the management team, who had a clear picture for the group’s future and wanted to build upon the strong working environment they have created over the years.”