Regulatory service provider becomes employee-owned
Life sciences, pharmaceutical and medical device regulatory service provider ESPL Regulatory Consulting has become employee-owned.
Ownership of ESPL has transferred from the Erwood family to a trust. The transfer has been supported by Highlands & Islands Enterprise, which provided a grant for the legal costs involved in the business buyout. Co-operative Development Scotland - an arm of Scottish Enterprise - provided early support on Employee Ownership and the EO Trust model, and Ownership Associates assisted the business throughout its transition.
ESPL, which has its Headquarters in Shetland, operates internationally and has sister companies in Ireland and Switzerland. The company is a specialist consultancy serving the medicines and medical device industries globally. The company operates in Glasgow, England, across the EU, Switzerland, North America and Australia.
ESPL’s team of medical and regulatory professionals and scientists define strategies and complete these activities on behalf of its clients.
The company supports a range of projects, including:
- New high-tech treatments for rare diseases
- New / generic medicines and medical devices
- Radioactive treatments for cancer diagnosis and therapy
- Training in pharmaceutical law
In considering their long-term succession options the owners, Helen, Tony, and Chris Erwood, were keen to identify a solution that would allow the business to continue to thrive for the benefit of the employees and remain rooted in Scotland.
Dr Helen Erwood, who specialises in pharmaceutical regulatory affairs, will continue to be involved in the business.
She said: “It’s approaching time for control of the business to be handed over to the next generation. We have built up a successful business from our Shetland base and we couldn’t have done that without the considerable talents and efforts of our team. One of our core values is collaboration, and the employee ownership model reinforces that.”
Jason Collins, a regulatory professional, joins the board as managing director and is looking forward to the challenge.
He said: “Helen, Tony and Chris’ are handing the team a tremendous opportunity to take ESPL to the next level. They have created something unique and special and it’s up to us to ensure that the company continues to grow.”
ESPL has been advised and supported by Blackadders, and Owner Associates in the transition to employee ownership.