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Wetrooms International Group, the Scottish-based specialist supplier of PVC bathroom ceiling and wall panels, has completed a deal to become employee-owned.
Brothers Brian and Bill Crombie, who founded the business in 2005, have retained a 26% share and will continue to play key roles in the business as it continues to expand as an Employee Ownership Trust (EOT).
The move comes with the firm, headquartered at Rutherglen near Glasgow, reaching £20m annual turnover, with a 20% increase during the first quarter of 2025.
Brian Crombie said: “For us, this is about building a legacy for our team, recognising the loyalty of our staff. Becoming an EOT was the logical step for us to take. It makes sense for everyone. Most of our staff have been with us for a long time and we have a great management team.
“I’m 73 and Bill is 71. We’ve got ambitious plans for the business while naturally also considering what work looks like for us longer term. We’ve had approaches, but didn’t like the idea of a trade sale, putting the business in the hands of someone who might not understand our unique ethos. Our team deserve better. Becoming an EOT opens opportunities for our people to develop their careers, brings benefits to us and provides a level of comfort and confidence to the staff, suppliers and customers we work with that Bill and I are still here. It’s the ideal fit.”
The brothers have been working together for almost 50 years and previously successfully established Showerwall in the late 1990s, selling that business to the Saint-Gobain Group in 2007.
Bill Crombie added: “The business is in a real period of growth with huge potential to expand significantly over the next five years. We have the right team in place to achieve that.”
Wetrooms has been guided through the transition to employee ownership by Ownership Associates with assistance from Reference Point Advisory and legal advice from Lindsays.
Employee ownership unlocks a capital gains tax exemption for shareholders who sell their shares to an EOT and the ability to reward employees annually with qualifying bonuses of up to £3,600 per year per employee, which can be paid free of income tax.
