A Kilwinning engineering firm has entered a new era following a successful management buy-out, backed by Business Loan Scotland and Team North Ayrshire.

John Murphy, former General Manager at William Engineering, is now the proud owner of new firm, Murphy Engineering (Scotland) Ltd, based in Kilwinning’s Nethermains Industrial Estate.

The takeover followed the retirement of owner Maureen Harrison. And on Friday, the new business welcomed Council Leader Joe Cullinane and members of the Council’s Business Growth Team to mark the beginning of its next chapter.

Established in 2007, William Engineering had been providing a complete specialist metal engineering service. But with the news earlier this year of Maureen’s plans to step down, fears were raised over the future of the business and its 12 employees.

John began exploring opportunities for a management buy-out.

He approached Team North Ayrshire – the public, private and third sector partnership offering a single point of contact for business support.

They worked with John to successfully secure financial assistance from Business Loans Scotland to aid his ambitious plans.

The buy-out process was officially completed in June 2017 and marks the first ever buy-out assisted by Business Loans Scotland.

John then transferred its assets over to his new firm, Murphy Engineering.

North Ayrshire Council Leader Joe Cullinane, said: “We are absolutely delighted to have been able to assist John with his bold and ambitious plans. Thanks to his determination it has allowed a successful firm to remain in business here in North Ayrshire and ensured job security for its hard-working employees.

John said: “I am absolutely delighted with the support and help given to me by RJ Hart Accountants, Team North Ayrshire and Business Loans Scotland. I can’t thank them enough.”