Lisle Design Ltd is celebrating a significant milestone in its employee ownership journey following the successful completion of the deferred consideration and buyback of founder Mike Lisle’s residual shareholding.
The move marks the end of Mike Lisle’s direct involvement with the business and reflects the continued strength and stability of the company under its employee ownership structure.
Since 2006, Lisle Design Ltd has been leading the way in road transport compliance. Its technology is used throughout Europe to download tachograph data remotely and automatically. The company combines innovative solutions with expert support to guide customers through the purchase, installation and continued use of its dependable, easy-to-use tachograph and telematics tools
As part of its continued growth and development, the company relocated from its original St Andrews base to new premises at Dundee’s Technology Park, providing a strong platform for future expansion and innovation.
Founded and developed over many years by Mike Lisle, the business transitioned to employee ownership in 2021 to secure its long-term independence, protect its culture and create a sustainable future for employees and customers alike. Since the transition, the leadership team has continued to develop the business and build on its strong foundations.
Mike Lisle, Founder of Lisle Design Ltd, said:
“My end goal for the implementation of the EOT was to retire happily knowing the company I started would continue in safe hands and would continue to support the employees who have supported me for a long time. I am happy this has been achieved. Now that we have reached the end of my involvement, I am very pleased with the outcome. The deferred consideration has been paid. The remaining shares have been bought by the company. Thornton and the team have demonstrated that they are ready and able to take the company forward. I hope the success continues and the company continues to prosper.”
Thornton White, who succeeded Mike as Managing Director at the time of the implementation of the EOT, added:
“We are extremely grateful to Mike for creating this opportunity for the employees and for the strong business he built over many years. The successful completion of the deferred consideration, together with the buy-back of the remaining shares, means that Lisle Design Ltd is now 100% employee owned, securing the company’s future in the hands of its employees.
Lisle Design has established itself as an innovative and creative business at the forefront of tachograph technology and we are confident that the commitment and expertise of our employee team will continue to drive the business forward to even greater success.”
Long-standing employee Eddie O’Donnell also welcomed the milestone, commenting:
“The move to employee ownership provided an injection of energy into the company. There is a real sense that everyone is invested in the future and committed to helping the business succeed. It’s exciting to be part of building the next chapter of Lisle together.”
The completion of the deferred consideration demonstrates the practical success of the employee ownership model, with the company able to fund the transition from future trading performance while maintaining continuity for employees, customers and suppliers.
Scotland based employee ownership specialists.
