United Auctions Embraces Employee Ownership Transition with TLT's Guidance

National law firm TLT has successfully advised United Auctions, a leading Scottish livestock auctioneer, on transitioning to an Employee Ownership Trust (EOT), marking a first for the agricultural sector in Scotland. Initially established in 1858, United Auctions has long been a key player in Scotland's agricultural industry. This significant transactional shift is expected to maintain the firm’s unique ethos and customer relationships while localizing decision-making. TLT’s corporate, incentives, and banking teams, led by corporate partner Douglas Roberts, facilitated the transition, showcasing their expertise in EOT transactions. The move aims to empower employees and is indicative of a rising interest in EOTs across Scotland, especially within the agricultural industry. George Purves, a trustee director for the EOT, emphasized the potential for growth while preserving the company’s longstanding values.