Leading independent firm of chartered accountants and business advisers, Johnston Carmichael, has supported United Auctions Group Ltd on its transition to employee ownership. The deal was supported by HSBC Bank.

Johnston Carmichael’s Corporate Finance team was engaged by the directors of United Auctions to review the company’s future strategy and ownership. After a full review, an employee buyout was identified as the best fit, aligning with the company’s core values, strengthening its connection with key clients, and enabling long-term growth driven by its long serving, experienced team. This marks the latest milestone in United Auction’s journey, following a successful management buyout in 2017, which Johnston Carmichael also advised on.

Johnston Carmichael provided lead advisory, funding, and tax specialist support for the transaction.

United Auctions is Scotland's leading livestock auctioneering business, renowned for the prestigious Stirling Bull Sales. With its central mart in Stirling and a network of satellite marts, the company has evolved significantly since its origins in 1858. Today, United Auctions serves over 18,000 customers and achieves a turnover of £24 million.

The deal will mean that the company will remain independent, continue its core ethos and be able to drive business growth through the strengthened relationship and collective responsibility within its employee base.

Christopher Sharp, Joint Managing Director, United Auctions, said: “As one of our trusted partners, we were delighted to have Andrew, and his team guide us through our transition to an employee-owned company. Johnston Carmichael’s expertise, knowledge, and professionalism ensured we found the right solution for our business, delivering a successful outcome for all stakeholders.”

Andrew Ewing, Corporate Finance Partner at Johnston Carmichael, said: "Johnston Carmichael was delighted to support the transition of United Auctions into employee ownership, marking a significant milestone in our longstanding relationship with the company. Our corporate finance team has provided strategic advice to the management team over the years, and this deal aligns perfectly with the company's values, its dedicated staff, and its loyal client base. It also lays a strong foundation for the business’s continued success and growth."