Edinburgh-based IT consultancy and managed services firm, Quorum Network Resources, is progressing toward an employee ownership model.

The firm will make the move to employee ownership on Friday the 29th of March, with an employee trust owning the majority of the business’ shares on behalf of its 100 employees.

Launched in 1999, the firm provides a range of IT services to a host of established companies across the UK, encompassing various industries including the banking and legal sectors, as well as the oil industry.

Co-founders Andrew Watson and Charles Scott will retain a small number of share options as part of the move and will continue in the roles of CEO and COO respectively.

While Quorum has experienced significant growth and success amid a turbulent political and economic backdrop, the company co-founders said they began to consider what the future of the firm could look like.

Employee ownership, in this case, has allowed them to initiate a detailed succession plan well ahead of any potential exit.

Commenting on the announcement, Scott said: “If a company is acquired there is normally either a rationalisation of roles or a clash of cultures that directly impacts the employees and customers of that company; which is something we never want to happen.”

Qurum believes that transitioning to employee ownership could offer it a “graceful” way of ensuring the company maintains its current course and form, as well as guaranteeing that employees both benefit from future changes and have a central role in Quorum’s direction.