UKFT member Halley Stevensons secured a £2.5m funding package from HSBC UK to support its transition to employee ownersjhip. The Dundee-based manufacturer with over 150 years of heritage established an Employee Owned Trust (EOT) to underpin its long-term future.
Founded in 1864 as a cotton mill producing sailcloth for ships, Halley Stevensons has evolved into a specialist manufacturer of waxed cotton and weatherproof fabrics, supplying premium global brands including Patagonia, Belstaff, Fred Perry and Barbour.
Headquartered in Dundee, the business has experienced strong growth in recent years, increasing turnover from £5m during the pandemic to approximately £14m today.
The transition to employee ownership was driven by the outgoing shareholders' desire to protect the heritage and independence of the business, ensuring it remains rooted in Scotland while continuing to grow. The move also supports long-term stability for employees and customers, while preserving the company's specialist expertise.
Jimmy Campbell, MD at Halley Stevensons, said: "Becoming employee-owned marks an important milestone in our long history. It was essential to us that the business remained independent and that its heritage was protected for future generations. This structure allows us to do just that, while continuing to build on the progress we've made in recent years."
