Falkirk plant hire firm switches to employee ownership to secure future of workers’ jobs

By placing the majority of the company’s shares into an Employee Ownership Trust, Y.E.S. has secured the future of 29 jobs.

The firm, based in Castlelaurie Estate, Bankside, is enjoying its 10th year of operation and states it is on track to achieve another record year in 2022, recently opening a second branch in Dundee.

Y.E.S. provides tool and plant equipment for hire mainly for the construction industry, but it has also expanded into a variety of markets – including the DIY, petrochemical and utilities sectors.

David Johnstone (52), Y.E.S. founder and managing director, was a senior director at HSS Hire before using his expertise to start his own firm in 2012.

Looking to secure the future of the firm, while fulfilling his goal of retiring by the age of 55, David made the decision to hand over the reins to his staff.

He said: “Your Equipment Solutions has reached an incredible milestone. As founder, I’m at a point where I’ve passed down my vision and purpose to the staff over the years and they have embodied it in everything they do.”

Members of the Y.E.S. team include David's wife Lisa, son Ryan, daughter Danielle and brother Alex. Even grandson Jamie is well known by staff and customers.

“As clichéd as it sounds, we are one big family at Y.E.S. and when looking into my succession plan, employee ownership was the perfect option. I’ve always had the view if the company does well, the staff should do well too – and this is just one of the ways I can repay their hard work.

“I’m confident the more than capable team are going to continue the business’s constant commitment to quality products and services, as well as its strong values in charity and local community, which is something that wouldn’t have been guaranteed should I have sold the firm.”

To mark the company’s move to employee ownership, and to reward the Y.E.S. team for their loyal service over the years, the company is paying a special bonus of £1000 to each employee.

The hire business is community partners with Falkirk FC and Stenhousemuir FC and also sponsor Falkirk Rugby Club and various golf courses.

Y.E.S. also carries out numerous charitable and community-driven initiatives in the surrounding area.

David said: “This is extremely important to me, and the EOT will allow us to continue to develop our support and understanding of what our local community needs and where we can help”

He added he will slowly start to reduce his working hours at Y.E.S. over the next three years, leaving the day-to-day running of the business in the capable hands of dedicated staff.

David called upon employee ownership expert Ownership Associates to ensure the transition to the new business model was seamless.

Carole Leslie, director of Ownership Associates, said: “There was a real sense of family and community at Y.E.S. and it was an absolute pleasure to assist David in

handing over control to his loyal staff.

"The move has allowed David to smoothly exit the business while ensuring its longevity, values and job security aren’t impacted.”