TMM Recruitment moves to employee ownership – Daily Business

TMM Recruitment, which has operated in north east Scotland for 25 years, has become the latest company to switch to employee ownership.

Under the new structure, the shares of the business are now held in an Employee Ownership Trust (EOT) on behalf of its 32 employees, giving them a collective stake in the company.

Chief Executive Amanda McCulloch – who has led the business since 2009 and will continue in her role – said: “This Employee Ownership Trust is our way of recognising and rewarding the people who have been instrumental in making TMM Recruitment what it is today.

“It’s not just a business transaction; it’s a commitment to our team’s future and a testament to the collaborative spirit that defines us.”

TMM Recruitment (formerly Thorpe Molloy Recruitment) was founded in 1997 in Aberdeen by Karen Molloy and Judith Thorpe.

Ms McCulloch joined the business as a graduate trainee consultant, before progressing into a leadership position.

As part of the EOT, the leadership team at TMM remains in place, ensuring continuity for clients and candidates while broadening the sense of shared responsibility across the company.

First introduced by the UK Government in 2014, the employee ownership trust model offers a succession route that helps retain local ownership, protect company culture and driving employee engagement. It is backed by the Scottish Government.

TMM Recruitment was advised on the transaction by Baxendale Employee Ownership and Hall Morrice.